Decision Maker: Cabinet, Council
Decision status: Recommendations Approved
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, considering
Government funding forecasts for the coming year and potentially
future years.
The key recommendations from this report will help formulate the
2022-23 budget and the 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 to be set, having
considered the recommendations from the Corporate Governance and
Audit Committee.
(4) that the current resources position is noted.
Key Decision - Yes
Council Decision
*RECOMMENDATIONS TO COUNCIL
a) The key financial principles and actions set out in appendix 1 of the 5 year Financial Strategy report be approved.
b) That having considered the recommendations of the Corporate Governance and Audit Committee, the Minimum Level of Reserves remains set at £4m.
c) That the current 5 year Financial Model detailed in appendix 2 (Part 2) and the Resources Statement in appendix 3 to the Financial Strategy report be noted.
Report author: Mrs Helen Belenger
Publication date: 04/11/2021
Date of decision: 02/11/2021
Decided at meeting: 02/11/2021 - Cabinet
Accompanying Documents: