Issue - meetings

Background:

This report provided an update on progress towards setting the Council’s draft capital and revenue budgets for 2018/2019. It was noted that the draft budget was based on the principles contained in the Medium Term Financial Strategy (MTFS) 2017/2022, which had been approved by Cabinet on 26 September 2017 and reflected the latest formula grant assumptions. Draft budget requirements for the directorates in 2018/2019 were set out in Appendices 1-4 to the report.

It was reported that there was a £4.101m revenue budget deficit for 2018/2019, increasing to £17.715m by 2021/2022 which would need to be addressed through the budget setting process. Whilst officers had been working with Portfolio Holders to formulate savings proposals to address the projected revenue budget deficit, none of this work had progressed sufficiently to be reflected in the draft budget proposals.

In relation to the capital programme, it was reported that the existing programme, totalling £92.002m, for the next three years, reflected planned capital expenditure over the medium term and incorporated everything currently known about capital grant allocations.

In accordance with the Constitution, this report was the first stage of the budget consultation process leading to further consideration by Cabinet on 6 February 2018 and formal budget and council tax setting by Council on 22 February 2018. Budget proposals would now be submitted to the Council’s overview and scrutiny committees.

Reasons:

It is the responsibility of Cabinet to develop draft budget proposals for consideration by overview and scrutiny committees. These draft proposals are the first stage of the budget consultation process leading to further consideration by Cabinet on 6 February 2018 and formal council tax setting by Council on 22 February 2018.

The timetable for consideration by overview and scrutiny is as follows: