Issue - meetings

One Medway: Financial Improvement and Transformation Plan

 

 

Meeting: 30/04/2024 - Cabinet (Item 5)

5 One Medway Financial Improvement and Transformation Plan pdf icon PDF 190 KB

Additional documents:

Minutes:

Background:

This report set out the Council’s One Medway Financial Improvement and Transformation Plan for the medium term.

The report explained that on 11 January 2024, the Leader of the Council and Chief Executive had written a joint letter to the Minister for Local Government, requesting ‘exceptional financial support’. On 27 February 2024 the Leader had received a response from the Minister which confirmed that the Secretary of State was minded to approve this request.

The Plan was intended to meet the requirement to produce an improvement and transformation plan, as a condition of the ‘exceptional financial support’.

The Plan was closely aligned with the priorities within the One Medway Council Plan. For each priority, the former set out a brief narrative explaining the areas requiring improvement, a detailed savings plan for the next twelve months in respect of the particular service or area of activity and a range of other key actions which aimed to achieve longer term financial sustainability.

Decision

number:

 

Decision:

 

70/2024

The Cabinet agreed the One Medway Financial Improvement and Transformation Plan, as set out at Appendix 1 to the report.

 

The Cabinet noted that responsibility for delivering the savings and actions set out within the Plan had been assigned to specified Corporate Management Team colleagues and that the plan would be subject to regular and frequent monitoring via Corporate Management Team.

Reasons:

The Plan represented how the Council would monitor achievement of the 2024/25 savings targets and sets out how the Council will deliver the improvements necessary to achieve the One Medway Council Plan objectives. It will also fulfil the conditions attached to the ‘exceptional financial support’approved in principle by the Secretary of State and the wider requirements of the ‘productivity plans’ proposed by Government.