Agenda item

HC 18             

The Leader introduced a report that presented an annual review of the Council’s Medium Term Financial Strategy (MTFS).  The strategy was based on a financial forecast over a rolling five year timeframe to 2021/22 which would help ensure resources were aligned to the outcomes in Our Plan. 

The forecast was intended to provide a framework within which decisions could be made regarding the future service provision and council tax levels whilst building an approach that guaranteed the Council’s longer term viability.

The Leader began by outlining the assumptions listed at Para 3 of the presented agenda report.  The Leader and the s151 Officer gave further detail and responded to a number of detailed questions on elements within the report.

The Executive Director (Service Delivery and Commercial Development) responded to questions on Disabled Facilities Grants and how they were processed.  The Leader asked that the Lead Hub Member for Health and Wellbeing monitor performance in relation to Disabled Facilities Grants.

It was then RESOLVED that Hub Committee:

i)       Had considered the five year Medium Term Financial Strategy (MTFS) and provided an indication of the budget principles to be adopted, with particular reference to:

-        the level of council tax increase,

-        the use of New Homes Bonus to support the revenue budget,

-        bringing forward income generation and budget savings and

-        maintaining the current Council policy on the minimum level of unearmarked reserves being £750,000 (see Section 10 of the presented agenda report);

RECOMMENDED to Council:

ii)     to accept the four year financial settlement being offered by the Government as set out in Section 2 of the presented agenda report,

iii)    that the approval of the Efficiency Statement (for the four year funding settlement) be delegated to the Head of Paid Service in consultation with the Leader, Lead Member for Support Services and the S151 Officer (Finance Community of Practice Lead).

iv)  to commence consultation with Town and Parish Councils, on an annual grant reduction of 8.6% for the next three years in the Local Council Tax Support Grant, as shown in Appendix E to the presented report.