Decision details

The Medium Term Financial Strategy (MTFS) is a core part of the Council’s strategic framework and plays a pivotal role in translating the Council’s strategic plans and ambitions into action. The report provides an update on the MTFS for the period 2015/16 - 2020/21.

(i)  To approve and recommend to Council the Medium Term Financial Strategy as set out in Appendix 1 of the report.

(ii)  To approve and recommend to Council the Efficiency Strategy as set out in Appendix 1 of the report.

During the budget setting process the Council regularly revises its Medium Term Financial Strategy (MTFS) and Medium Term Financial Model to enable financial position to be clear for budget proposals to be drawn up for the forthcoming year. The MTFS sets out various elements relating to the financial position that need to be considered and addressed by the Cabinet in preparing the final papers that will be presented to Council.

Alternative options for revenue spending and MTFS assumptions form an integral part of the development of the overall MTFS that will be considered at the Council budget setting meeting on 10 February 2016.  The current set of assumptions contained within this report will be reviewed on a regular basis but represent the most up to date information available at this time.