Decision details

To consider any issues required for the preparation, monitoring, reporting and amendment of the revenue and capital financial plans for 2016/17 - 2019/20, including Government grants, financial pressures and service changes.

The Cabinet considered the report of the Head of Corporate Resources which provided details of the current outturn forecast position for the Council for 2016/2017 as at the end of July 2016, based on the latest analysis of expenditure and income due to the Council, in addition to the progress in delivering approved savings; the current forecast on Council Tax and Business Rates collection for 2016/17; the current financial environment and the previously reported Medium Term Financial Plan position for 2017/18 to 2019/20; the proposed approach to the development of a budget package; and a proposed timetable for reporting to Members.

Decision Made: That

(1)          the current forecast outturn position as at the end of July 2016 be noted;

(2)          the progress to date on the achievement of approved savings for 2016/17 and residual savings carried forward from previous years be noted;

(3)          the forecast position on the collection of Council Tax and Business Rates for 2016/17 be noted;

(4)          the proposed approach to developing a budget package be noted; and

(5)          the proposed timetable for the budget process until the setting of the 2017/18 budget on 2 March 2017 be noted.

Reasons for Decision:

To ensure Cabinet are informed of the forecast outturn position for the revenue budget and delivery of savings as at end of June 2016. In addition, Cabinet were updated on the forecast outturn position with regard to the collection of Council Tax and Business Rates.

To ensure that Cabinet is fully aware of the Medium Term Financial Plan position and the proposed approach to the development of a budget package.

Alternative Options Considered and Rejected:

None.