This is a noting report that will provide Cabinet with an update on progress to date and plan for developing the MTFS for 2018 - 2021

The Pre-Decision Scrutiny Questions and Responses were noted.

DECISION

1.    To note the Council’s Outcomes Based Budgeting approach to prioritising resources over the Medium Term Financial Strategy from 2018-19 to 2020-21.

2.    To note the issues and actions set out in this report which are informing the development of the Council’s MTFS for 2018 – 2021;

3.    To note the timescales and next steps for reviewing and consulting on budget proposals;

4.    To authorise the Corporate Director Resources after consultation with the Mayor and Lead Member for Resources, to confirm to London Councils the in principle decision to proceed with participation in the London wide pilot for 100% business rates retention.

Action by:

CORPORATE DIRECTOR, RESOURCES (Z. COOKE)

(Divisional Director, Finance and Procurement (N. Murton)