Decision details

Financial Strategy and Plan 2018-2019

Decision Maker: Cabinet, Council

Decision status: Recommmend Forward to Council

Is Key decision?: No

Is subject to call in?: No

Purpose:

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.

Decision:

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

Accompanying Documents: