Agenda item

The Board considered a report of the Assistant Chief Executive that provided an update on the progress made at the end of December 2014 on the delivery of the 2014/15 to 2016/17 Medium Term Financial Plan (MTFP 4) (for copy see file of minutes).

The Head of Policy and Communications reported that Delivery of the MTFP programme continues to remain challenging and the savings for 2014/15 represent an increase of 10% on the savings required in 2013/14. By 31 December 2014, over 96% of the target had been met, an increase of 14% on the last quarter. £3.2m of savings were achieved in the third quarter meaning the Council had delivered over £22m of savings for 2014/15 which amounts to almost £136m of savings since 2011.

Councillor Wilkes referred to the forecast of reserves that were predicted and asked for assurance that suggestions from scrutiny committees would be taken into account and that alternative proposals be looked at during the year with the possibility of being implemented. The Chairman advised that scrutiny can always ask the question, however the decision would be made by Cabinet.

Resolved:

That the information contained in the report and the progress being made in delivering the MTFP4 be noted.