Issue - meetings
MEDIUM TERM FINANCIAL STRATEGY 2024/25
Meeting: 19/09/2023 - Cabinet (Item 5)
5 MEDIUM TERM FINANCIAL STRATEGY 2024/25 TO 2028/29 
PDF 511 KB
Decision:
(i) That the funding pressures of £2.751m in 2024/25 and £5.082m over the 5-year period covered by the Medium-Term Financial Strategy (MTFS) be noted.
(ii) That the approach regarding the development of savings and income generation proposals in the medium-term be agreed.
(iii) That the continued uncertainty regarding the medium-term impact of local government funding and the Cost-of-Living crisis be noted. Also, it be noted that the Portfolio Holder for Finance, Town Centres and Growth will be writing to Central Government and Local MP’s to lobby for funding to assist with the additional pressures in respect of the national pay award and temporary accommodation.
Minutes:
The Deputy Leader presented the Medium Term Financial Strategy with regard to the financial pressures facing the Council for the period running from 2024-25 to 2028-29, in particular the pay awards and temporary accommodations for vulnerable residents.
The Leader and the Portfolio Holder for Strategic Planning both supported the proposal to send a letter to the government to request funding to assist with these two additional pressures, copying in local Members of Parliament.
The Leader concluded by reminding members of the overall stability of the budget which was demonstrated in ongoing projects such as the regeneration of the town centre and the refurbishment of Kidsgrove Sports Centre.
Resolved:
(i) That the funding pressures of £2.751m in 2024/25 and £5.082m over the 5-year period covered by the Medium-Term Financial Strategy (MTFS) be noted.
(ii) That the approach regarding the development of savings and income generation proposals in the medium-term be agreed.
(iii) That the continued uncertainty regarding the medium-term impact of local government funding and the Cost-of-Living crisis be noted.
Also, that it be noted that the Portfolio Holder for Finance, Town Centres and Growth would be writing to Central Government and Local MP’s to lobby for funding to assist with the additional pressures in respect of the national pay award and temporary accommodation.