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  • Decision details

    Medium Term Financial Plan (00-58-19)

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    Decision Maker: Cabinet

    Decision status: Implemented

    Is Key decision?: Yes

    Is subject to call in?: No

    Purpose:

    To consider an updated Medium Term Financial Plan

    Decisions:

    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.

     

    Report author: Andrew Jarrett

    Publication date: 22/10/2019

    Date of decision: 17/10/2019

    Decided at meeting: 17/10/2019 - Cabinet

    Accompanying Documents:

    • MTFP - GF Cabinet 2020-21 pdf icon PDF 160 KB
    • MTFS Appendix 1 - Key Assumptions in MTFP pdf icon PDF 201 KB
    • Appendix 2 Capital MTFP 20-21 to 23-24 pdf icon PDF 155 KB