Issue - meetings

Background:

This report set out the major financial issues facing the Council over the next four years. It also provided a framework for the more detailed preparation of the draft Revenue Budget for 2015/2016.

The report included details of the Council’s financial position, together with an overview of the Government’s spending plans for 2015/2016, the Council’s strategic priorities and core values and the need for the Medium Term Financial Plan to be able to respond to the changing policy context in which the Council and its partners operated. An assessment of likely available resources and details of a number of key spending issues across the Council’s directorates were set out. Diversity Impact Assessments would be undertaken and reported to Members as part of the budget and service planning process as the quantum of resources and the impact on Council services unfolded.

Members were advised of potential deficits for 2015/2016 to 2017/2018 of £12.238m, £20.339m and £27.324m respectively.

It was noted that in order to retain the strategic aim of achieving a sustainable budget without recourse to reserves, existing and emerging pressures would be challenged and weight given to the efficiency agenda and the search for more cost effective means of delivery. The report stated that irrespective of the eventual forecast shortfall in resources arising from the budget requirement, it must remain the Council’s main strategic aim to achieve a sustainable budget without recourse to reserves.

It was noted that the Business Support Overview and Scrutiny Committee would be considering the report on 7 October 2014.

Reasons:

This is a preparatory document to meet the budget process and timetable set out within the Constitution.