Issue - meetings

Resolved:     (a)       That the Medium Term Financial Strategy for 2013/14 to 2017/18 be agreed.

(b)       That the report be referred to the Transformation and Resources Overview and Scrutiny Committee for comment.

Members received a report to provide the background on the financial strategy for the Council over the next five years in the light of the national and local financial situation and taking account of the Council’s priorities.

A Budget Review Group had been established, chaired by the Cabinet Portfolio Holder for Finance and Budget Management.  The remit of the group was to oversee all aspects of the budget process, including service review and challenge, longer term planning, development of budget options, agreeing consultation arrangements and consideration of feedback and seeking to deliver service models that drove improvement to front-line services whilst offering value for money. At the present time the budgetary shortfalls for upcoming years were as follows:

2013/14 £1.627m

2014/15 £0.810m

2015/16 £0.797m

2016/17 £0.655m

2017/18 £0.657m

These were however only estimates and procedural and legislative changes were expected in the future

Resolved:     (a)       That the Medium Term Financial Strategy for 2013/14 to 2017/18 be agreed.

(b)       That the report be referred to the Transformation and Resources Overview and Scrutiny Committee for comment.