Decision details

The Cabinet considered the report of the Head of Corporate Finance and ICT which provided an assessment of the robustness of the estimates and the tax setting calculations, the adequacy of the proposed financial reserves and the longer term revenue capital plans, based on the proposals set out in the reports on the Two Year Financial Plan and Revenue Budget 2013/14 (Minute No. 119) and the Budget and Council Tax Recommendation 2013/14 (Minute No. 121).

This was a Key Decision and was included in the Council’s Forward Plan of Key Decisions.

Decision Made:

That the report be noted.

Reasons for Decision:

The Local Government Act 2003 (section 25) (as amended) requires the Chief Financial Officer to report formally on the following issues:

(a)       An opinion as to the robustness of the estimate made and the tax setting calculations

(b)       The adequacy of the proposed financial reserves

(c)        The production of longer term revenue and capital plans

The Cabinet and Council must note the issues raised in the report during the final stages of determining the financial plan for 2013/14 and 2014/15 and budget for 2013/14.

Alternative Options Considered and Rejected:

None – The statutory report provided advice to Members in determining the two year financial plan and the budget 2013/14.