Decision details

Medium Term Financial Plan

Decision Maker: Place Scrutiny Committee, Children and Young People Scrutiny Committee, Cabinet, Council

Decision status: Recommendations approved

Is Key decision?: Yes

Is subject to call in?: Yes


To propose the Medium Term Financial Plan (MTFP) 2019/20 as a basis for consultation. The MTFP sets out the Council's priorities and resource allocations, Annual Capital Expenditure and proposals for the Capital Programme.


The Leader introduced the report of the Chief Officers Executive (previously circulated) requesting that consideration be given to the Medium Term Financial Plan (MTFP) for 2019/20 to 2022/23, including setting a budget and council tax increase for 2019/20, and a Capital Programme for 2019/20 to 2022/23, for consultation.


The submitted report stated that between the financial years 2010/11 and 2018/19 the Council had faced unprecedented financial challenges from reductions in public sector spending, which had meant an overall real terms decrease in government funding of £47.5M, anticipated to increase to £51M by 2022/23; this had resulted in the Council agreeing reductions in planned expenditure of over £57M leading to a reduction to date of 747 in the Council’s workforce; the report had been prepared before the Local Government Finance Settlement (LGFS) which was expected to be announced on 6 December; the Council undertook a significant consultation exercise in 2016, following an in-depth and detailed review of all services which resulted in the agreement of a Core Offer budget which allowed for a small futures fund allocated to discretionary services; although the Core Offer remained challenging, the Council agreed to use unallocated balances of £4.1M to invest in five areas which held great value to the community; and that the Council’s financial position was robust with a four year balanced MTFP.


In presenting the report the Leader stated that the figure detailed in paragraph 42 of the submitted report, was £856,000 and NOT £856M; the finance settlement had been delayed; this Council had one of the lowest rates of Council Tax in the region; and confirmed that the MTFP was deliverable.


Discussion ensued on the budget; the ambitions for the town; and the funding of social care and children’s services.


RESOLVED – That the Revenue MTFP as set out in Appendix 7 of the submitted report, and the proposed Capital Programme summarised in Appendix 8 of the submitted report, be approved for consultation, including:-


                          (i)    a Council tax increase of 2.99 per cent for 2018/19; and

                         (ii)    the Schedule of Charges, as set out in Appendix 3 of the submitted report


REASONS – (a)  The Council must set a budget for the next financial year.


(b)  To enable the Council to continue to plan services and finances over the medium term.


(c)  To ensure decisions can be made in a timely manner.

Report author: Elizabeth Davison

Publication date: 17/12/2018

Date of decision: 11/12/2018

Decided at meeting: 11/12/2018 - Cabinet

Effective from: 25/12/2018

Accompanying Documents: