Decision details
Budget and Medium Term Financial Strategy 2019-22 Update
Decision Maker: Cabinet
Decision status: Recommendations Approved
Is Key decision?: Yes
Is subject to call in?: Yes
Purpose:
This report provides an update on progress
with finalising the Council’s budget for 2019-20 and Updating
the Council’s Medium Term Financial Strategy for the period
2019-20 to 2021-22, including the proposals for conducting a public
consultation.
Decision:
DECISION
1. To note the changes to the draft budget position for 2019-20.
2. To note the need to make further savings of £44m over 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 2019 – 2022;
4. To note the commencement of formal budget consultation with residents, businesses and other key stakeholders and to receive feedback on the consultation at Cabinet in December.
In relation to the Housing Revenue Account:
5. To note that, under section 23 of the Welfare Reform and Work Act 2016 the Authority must implement a rent reduction of 1% for four years starting in 2016/17, and consequently to agree an average weekly rent reduction of 1% to take effect from the first rent week of April 2019. This equates to an average rent reduction of £1.08 per week for 2019/20.
Action by:
CORPORATE DIRECTOR, RESOURCES (Z. COOKE)
(Divisional Director, Finance, Procurement and Audit (N. Murton)
Report author: Pam Cummins
Publication date: 02/11/2018
Date of decision: 31/10/2018
Decided at meeting: 31/10/2018 - Cabinet
Effective from: 10/11/2018
Accompanying Documents:
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