Decision details
Medium Term Financial Strategy Refresh & 2020-21 Budget Planning
Decision Maker: Cabinet
Decision status: Recommendations Approved
Is Key decision?: Yes
Is subject to call in?: Yes
Purpose:
A refresh of the Council’s Outcomes
Based Budgeting approach to prioritising resources over the Medium
Term Financial Strategy from 2020-21 to 2022-23.
Setting out issues and actions which inform the development of the
Council’s MTFS for 2020-2023 to include timescales and next
steps.
Decision:
The Pre-Decision Scrutiny Questions and officer responses were noted.
DECISION
1. To note the updated draft budget position for 2020-21.
2. To note the need to set a balanced budget over the whole of the MTFS period.
3. To note the issues and actions set out in this report which are informing the development of the Council’s MTFS for 2020-23.
4. To note the indicative timeline of formal budget consultation with residents, businesses and other key stakeholders and to receive feedback on the consultation at Cabinet in November.
In relation to the Housing Revenue Account:-
5. To note the most recent HRA 30 year financial modelling assumes that from 2020-21 HRA rents will increase by CPI + 1% for five years, and then by CPI only.
In relation to the Local Council Tax Reduction Scheme (LCTRS):-
6. To maintain the existing 100% Local Council Tax Reduction Scheme for 2020-21 protecting our residents on low incomes.
Action by:
CORPORATE DIRECTOR, RESOURCES (N. MURTON)
(Divisional Director, Finance, Procurement and Audit (K. Bartle)
Report author: Pam Cummins
Publication date: 02/08/2019
Date of decision: 31/07/2019
Decided at meeting: 31/07/2019 - Cabinet
Effective from: 10/08/2019
Accompanying Documents:
PDF 365 KB