Issue - meetings

(The report of the Director of Corporate Resources  to be introduced by the Cabinet Member for Finance and Carbon  Reduction) . The Cabinet will consider the Medium Term Financial Plan covering the three years to March 2015, with a revised assessment in each of the next three years of the financial resources available to the Council and to make initial budget proposals for 2012-15 for scrutiny and external consultation , the outcomes of which will inform the Cabinet’s recommendations to the Council for its revenue budget estimates 2012-13 and Medium Term Financial Plan 2012-15.

REPORT TO FOLLOW

The Cabinet received a report that provided an update with respect to the Council’s Medium Term Financial Plan (MTFP) that covered the three years to March 2015.

The report built on an earlier set of savings agreed by the Cabinet in March 2011 and contained proposals around how the remaining budget gap of £21m would be closed.

It was noted that as part of the proposals included reductions to the running of residential children’s homes and measures to achieve the savings outlined were being considered at present. Given the scale of the savings that were required it was important that all areas were reviewed to ensure that the best possible value for money was being achieved.  

RESOLVED:

1. That the latest revenue financial forecasts for 2012-14, as set out at paragraph 9.39 and Appendix 1, of the report be noted.

2. That the new savings proposals, set out in Appendix 2 of the report for review by the Overview and Scrutiny Committee and external consultation, be approved in principle.

3. That at its meeting on 20 December 2011 the Cabinet would consider further the revenue budget proposals for 2012/13 and the proposals for the Medium Term Financial Plan 2012-15 informed by responses to the consultation and scrutiny reviews set out at (ii) above.