Issue - meetings
Budget and Medium Term Financial Strategy 2019-22 Update
Meeting: 31/10/2018 - Cabinet (Item 6)
6 Budget and Medium Term Financial Strategy 2019-22 Update 
PDF 208 KB
Additional documents:
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)
Minutes:
Councillor Candida Ronald, Cabinet Member for Resources and the Voluntary Sector, introduced the report. She highlighted that clarity was still being sought from the government on some of the announcements that had been made during the budget.
The Mayor considered the report and noted the savings figures that still needed to be identified. He agreed the recommendations as set out.
RESOLVED
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.