Agenda item

Medium Term Financial Plan

Report of the Assistant Director Resources


The Assistant Director Resources submitted a report (previously circulated) requesting that Members give consideration to the Medium Term Financial Plan (MTFP) for 2022/23 to 2025/26.


In introducing the report, the Group Director of Operations reminded Members of the MTFP Briefing that was delivered to Members in December outlining the overall position of the MTFP, and advised that Members now had the opportunity to ask questions relating to the remit of this Scrutiny Committee and to forward any views or comments to the Economy and Resources Scrutiny Committee for consideration at its meeting scheduled to be held on 20 January 2022.


The Group Director of Operations provided an update on the finance settlement which had been received subsequent to the draft MTFP.


It was reported that the Council Tax and Precept levels remained as expected at 2 per cent and 1 per cent respectively; that the £1.5B additional funding announced in the Autumn Statement had been split into £822M Services Grant and £636M Social Care Grant; the Council would be receiving £1.579M from the Services Grant and £1.162M from the Social Care Grant, which was higher than the estimate included within the draft MTFP; and Members were advised that the Services Grant was a one-off payment whilst a further review of Local Government funding was conducted.


Members were also advised that the New Homes Bonus had been extended for a further year, and that this would net a further £1.4M above anticipated levels. It was reported that there were also a number of deductions from initial draft figures, however overall there would be an additional £1.073M funding for 2022/23.


It was reported that the Public Health and Housing Revenue Account were the two main funding streams within the remit of this Scrutiny Committee; these were both ring fenced grants; that the 2022/23 Public Health Grant allocation had not yet been announced; and there were no specific pressures for Housing or Public Health in 2022/23.


Following a question, the Group Director of Operations advised Members that there were no anticipated reductions in the Public Health grant.


IT WAS AGREED – (a) That this Scrutiny Committee has no comment to make on the MTFP 2022/23 to 2025/26.


(b) That the Chair, in consultation with the Lead Scrutiny Officers supporting this Scrutiny Committee, be given authority to agree the Notes of this Meeting of the Committee, to enable the Notes to be considered at a Special Meeting of the Economy and Resources Scrutiny Committee, scheduled to be held on 20 January 2022.


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