Issue - meetings

[Report of the Chief Operating Officer. To be introduced by the Cabinet Member for Finance and Health.]The CLG has given Council’s the opportunity to accept a 4-year settlement for 17/18-20/21.  In exchange the Council must provide CLG with an efficiency plan.  The report is proposing that Cabinet  submit the agreed and  published Medium Term Financial Plan agreed in February 2015

The Cabinet Member for Finance and Health introduced the report which sought approval to submitting an Efficiency Plan [which would be the already approved MTFS (2015/16 – 2017/18) with an additional narrative around the third and fourth year] to the CLG as part of securing a 4-year funding settlement.

Submission of the Efficiency Plan would enable the Council to access minimum funding allocations for Revenue Support Grant (RSG) up to 2019/20.

In response to Cllr Engert’s question, agreed that a written response is provided on the RSG figure.

RESOLVED

That Cabinet recommend Full Council:-

1.    To approve acceptance to the offer of a 4-year funding allocation for 2016/17 to 2019/20 and the submission of the existing MTFS with additional narrative for 2018/19 and 2019/20 as the Efficiency Plan to the Department of Communities and Local Government before 14^th October 2016.

Reasons for decision

Accepting the offer provides some certainty for medium-term financial planning purposes

Alternative options considered

The Council could choose to not accept the 4 year deal. Whilst there is no guarantee that the 4 year deal is entirely safe given the volatility of government funding, by not accepting the Council risks the Government reducing funding in future years due to non compliance.