Decision Maker: Cabinet, Council
Decision status: Recommmend Forward to Council
Is Key decision?: No
Is subject to call in?: No
The purpose of the report is to update the
Council’s medium term financial strategy and action plan to
help guide the management of the Council’s finances having
signed up to the government’s four year settlement in the
previous year, and to build upon the work already achieved in the
deficit reduction plan in previous years.
The key recommendations from this report will help formulate the 2018-19 budget, and level of Council Tax.
Cabinet is asked to recommend to Council the following;
(1) The key financial principles and actions of the five year financial strategy
(2) That the current five year Financial Model is noted
(3) That a minimum level of general fund reserves be set, having considered the recommendations from the Corporate Governance and Audit Committee
(4) That the current resources position is noted.
RECOMMENDED TO THE COUNCIL
That the Council:
(1) Approves the key financial principles and actions of the five-year financial strategy set out in appendix 1 to the agenda report.
(2) Notes the current five-year Financial Model in appendix 2 to the agenda report.
(3) Approves that a minimum level of general fund reserves be set at £5m and the £1.3m provision for revenue support be maintained, having considered the recommendations from the Corporate Governance and Audit Committee.
(4) Approves that Chichester District Council participates in the West Sussex 100% Business Rates Pilot for 2018-2019 if the bid is accepted by the Department of Communities and Local Government or continues to participate in a West Sussex Business Rates pool for 2018-2019 if the pilot bid is unsuccessful.
(5) Notes the current resources position as set out in appendix 3 to the agenda report.
Report author: Mrs Helen Belenger
Publication date: 07/12/2017
Date of decision: 05/12/2017
Decided at meeting: 05/12/2017 - Cabinet