Issue - meetings

Background:

This report set out the major financial issues facing the Council over the next three years. It also provided a framework for the more detailed preparation of the draft Revenue Budget for 2012/15.

The report included details of the council’s financial position, together with a review of the Spending Review 2010, the council’s strategic proprieties 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. Members were advised that after allowing for a potential council tax increase and estimated savings from the transformational Better for Less programme, which sought to improve services and deliver efficiencies, there remained a potential deficit for 2012/13 of £9.445million. In order to retain the strategic aim of achieving a sustainable budget without recourse to reserves existing and emerging pressures would therefore be challenged and weight given to the efficiency agenda and the search for more cost effective means of delivery.

The report also set out the timetable for the development of the draft budget setting proposals and it was noted that business and service planning would run concurrently leading to the development of the Council Plan.

Reasons:

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