Agenda item

The Cabinet considered a joint report of the Corporate Director, Resources and Assistant Chief Executive which provided an update on the Medium Term Financial Plan (MTFP (5)) 2015/16 to 2017/18 and the 2015/16 Budget (for copy see file of minutes). 

Cabinet members pointed out that the figures were based on the draft financial settlement, with the final settlement being received later each year, with this year now not expected to be known until mid-February, which is leaving the Authority limited time to set the budget for the year ahead. They also referred to the continuation of the unprecedented level of cuts which if forecasting is correct is expected to exceed £250m by 2017/2018. It is the longest period of local government austerity in recent times, which continues to be unfairly distributed between councils. Members commented on the accurate forecasting and robust planning that the Authority had.

Resolved:

That the recommendations contained in the report be approved.