Decision details

The Cabinet had before it a *report of the Deputy Chief Executive (S151) producing an updated Medium Term Financial Plan (MTFP) which takes account of the Council’s key strategies (i.e. The Corporate Plan, Business Plans, Treasury Management Plan, Asset Management Plan, Work Force Plan and Capital Strategy) and demonstrates that it has the financial resources to deliver the Corporate Plan.

The Cabinet Member for Finance outlined the contents of the report stating that the MTFP had been considered alongside the draft budget and that the plan had to consider assumptions for future funding, unavoidable costs, such as pay increases, inflation and service pressures associated with new legislation, investment receipts and fee/charges levels and also considered and made assumptions regarding future levels of council tax.  He highlighted the proposed budget gap for 2023/24 and the need to retain and protect fundamental services.

RESOLVED that the updated Medium Term Financial Plan be noted and that the proposals as outlined in paragraph 8.2 of the report be endorsed.

(Proposed by the Chairman)

Note:  *Report previously circulated, copy attached to minutes.