Original Report withdrawn. Updated report provided with the following reasons for urgency:

Special Circumstances Justifying Urgent Consideration

As this report sets the Budget and Resource framework and the strategic priorities for the Council it required extensive consultation across the whole council and this led to the report being submitted late. Cabinet's approval of this report is urgently required to ensure the savings required of the Council are realised and the Council's work programme is set for this year.

Note – the original report was withdrawn and the Mayor approved the reasons for urgency for the replacement report.

DECISION

1.    To note the budget position for 2014/15.

2.    To agree the Strategic Plan for 2014/15 (Appendix 1).

3.    To note that the financial outlook for 2015/16 remains unchanged from what was reported in March 2014 and savings of £28.4m will be required to deliver a balanced budget for that year.

4.    To note that the financial position is subject to volatility and that development’s in Government policy and their implications on MTFP planning assumptions will be monitored closely and reported back at regular intervals during the financial year as part of the budget process.

5.    To note that current budget assumptions will be refreshed and that the MTFP will be extended to include projections for 2017/18 and 2018/19 as further iterations are reported to Cabinet.

Action by:

CORPORATE DIRECTOR, RESOURCES (C. HOLME)

(Service Head, Corporate Strategy and Equality (L. Russell)

Note – the original report was withdrawn and the Mayor approved the reasons for urgency for the replacement report.

Special Circumstances Justifying Urgent Consideration

As this report sets the Budget and Resource framework and the strategic priorities for the Council it required extensive consultation across the whole council and this led to the report being submitted late. Cabinet's approval of this report is urgently required to ensure the savings required of the Council are realised and the Council's work programme is set for this year.

Councillor Alibor Choudhury, Cabinet Member for Resources, introduced the report. He highlighted the good track record the Council had in delivering any necessary savings.

The Mayor welcomed the report and agreed the recommendations as set out.

RESOLVED

1.    To note the budget position for 2014/15.

2.    To agree the Strategic Plan for 2014/15 (Appendix 1).

3.    To note that the financial outlook for 2015/16 remains unchanged from what was reported in March 2014 and savings of £28.4m will be required to deliver a balanced budget for that year.

4.    To note that the financial position is subject to volatility and that development’s in Government policy and their implications on MTFP planning assumptions will be monitored closely and reported back at regular intervals during the financial year as part of the budget process.

5.    To note that current budget assumptions will be refreshed and that the MTFP will be extended to include projections for 2017/18 and 2018/19 as further iterations are reported to Cabinet.