Agenda item

Report of the Cabinet Member for Finance setting out the General Fund Revenue Budget proposals for Consultation for 2017/18 to 2020/2, attached.

DECISION MADE: (CAB 16/17 17562)

On consideration of the report of the Cabinet Member for Finance, and having considered representations from the Trade Unionist and Socialist Coalition, Cabinet agreed the following:

(i)  To note the revised Medium Term Financial Strategy 2017/18 to 2020/21 (attached as Appendix 2 - Summary and Appendix 4 – Full ) is based on the best estimate at this time and will need to be kept under review.

(ii)  To note the aims and objectives of the Medium Term Financial Strategy which will be presented to Council for approval in February 2017.

(iii)  To note that the report contains draft proposals for reducing cost and generating income that amount to £21.3M in 2017/18 increasing to £31.6M in 2018/19.

(iv)  To note that formal budget consultation will begin on 16 November 2016 for many proposals but that other proposals may be subject to different timescales when details are finalised.  The proposals and methodology of this consultation are detailed in Appendix 6.

(v)  To note that the Executive’s initial budget proposals will impact on staffing and that consultation will be undertaken in line with legislation and the Councils agreed processes before proposals are implemented.

(vi)  To note that the Executive’s budget proposals for consultation are based on the assumptions detailed within the MTFS and that this includes a Council Tax increase of 3.99 %, 1.99% under general powers to increase Council Tax without a referendum and 2.00% Social Care Precept.

(vii)  To delegate authority to the Service Director – Finance & Commercialisation (S151 Officer), following consultation with the Cabinet Member for Finance, to do anything necessary to give effect to the proposals contained in this report.