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Issue - meetings
Medium Term Financial Strategy 2020/21-2024/25
Meeting: 12/11/2019 - Communities, Housing and Environment Committee (Item 42)
42 Medium Term Financial Strategy 2020/21-2024/25 PDF 97 KB
Additional documents:
- Enc. 1 for Medium Term Financial Strategy 2020/21-2024/25, item 42
PDF 368 KB View as HTML (42/2) 412 KB
- MTFSAppendixB, item 42
PDF 202 KB
- Enc. 3 for Medium Term Financial Strategy 2020/21-2024/25, item 42
PDF 373 KB
Minutes:
The Director of Finance and Business Improvement, in presenting his report on the Medium Term Financial Strategy (MTFS) 2020/21 – 2024/25, explained that the report set out how the Council would deliver the Strategic Plan in financial terms.
The Committee noted that:-
·
A budget for action on climate change would need to be
built into next year’s budget.
·
Central government planned to roll forward the
existing funding settlement to 2020/21 which would provide some
stability next year. However, after
2021 there remains considerable uncertainty.
· The government planned to set a limit of 2% to increases of Council tax, above which a referendum would be required.
In response to questions from Members, the Director of Finance and Business Improvement advised that:-
·
In the event that self
funding capital bids could not be found, the Council would
be looking for new proposals to meet the strategy and would welcome
suggestions from Members.
·
Assuming that Council tax goes up by 2% then further
savings for 2020/21 would not be required and the existing services
that the Council provided would not be affected if all other
variables remained constant.
·
If there was a deficit in subsequent years post 2020/21 then further savings would need
to be made.
·
Given the fact that growth of 2% per annum in the
Council Tax base had not been achieved in previous years, it was
prudent to assume that the Council Tax base increase for 2020/21
would be 1.5%.
RESOLVED: That the Committee considered the draft Medium
Term Financial Strategy 2020/21 – 2024/25 and provided
comments to be taken to the Policy and Resources
Committee.