Issue - meetings
Budget planning for 2017/18
Meeting: 17/11/2016 - Economy & Assets Policy Development Group (Item 45)
45 Draft 2017/18 General Fund and Capital Budgets (01:18:43) 
PDF 301 KB
To receive a report from the Director of Finance, Asset and Resources considering the options available for the Council to set a balanced budget for 2017/18 and agree a future strategy for further budget reductions for 2018/19 onwards.
Additional documents:
- GF App 1 PDG GF Summary, item 45
PDF 12 KB
- GF App 2, item 45
PDF 21 KB
- GF App 2A Economy PDG Budget Report, item 45
PDF 24 KB
- GF App 3 to App 5, item 45
PDF 72 KB
Minutes:
The Group had before it, and NOTED, a report * from the Director of Finance, Assets & Resources considering the options available in order for the Council to set a balanced budget for 2017/18 and agree a future strategy for further budget reductions for 2018/19 onwards.
The draft budget was very much a work in progress. The Formula Grant settlement would be known just before Christmas and the Autumn Statement from the new Chancellor would be issued next week. At the moment there was a shortfall of £419k therefore further savings would need to be found in order to balance the budget. The Group were asked to consider the effects of 10% and 20% savings when the draft budget was brought back to them at the next meeting.
Note: * Report previously circulated; copy attached to the signed minutes.