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)

Councillor David Edgar, Cabinet Member for Resources, introduced the report. He highlighted that the Council had agreed a three year budget for the first time last time which helped provide the basis for a more thoughtful approach to the need to make savings. He noted a number of uncertainties such as over whether Councils would get to keep business rates where more detail was needed from government. The report was asking for in principle agreement on pooling London wide business rates.

The Pre-Decision Scrutiny Questions and Responses were noted and in particular the Mayor agreed to consider the transparency of the reporting structure for the Infrastructure Delivery Board.

The Mayor thanked officers for their work and agreed the recommendations as set out.

RESOLVED

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.