Issue - meetings

The Committee considered the report of the Director of Finance and Business Improvement which related to the Medium Term Financial Strategy and Budget Proposals.

It was noted that at its meeting on 18 December 2019 the Council agreed an updated Medium Term Financial Strategy (MTFS) for the next five years.  The MTFS set out in financial terms how the Strategic Plan would be delivered given the resources available.

The Director of Finance and Business Improvement advised that due to very few new developments being incorporated in the updated MTFS and the delay in the introduction of a new local government funding regime from 2020/21 to 2021/22, a stand-still budget would be set for 2020/21.  He added that the financial settlement from central government had been announced and it was in line with the projections.

The Committee noted that there was a contingency of £200,000 per year allocated for the local plan review which would be carried over to the next year if not spent. 

In response to Members’ concerns about the budget for the local plan review, the Director of Finance and Business Improvement advised that Members would be kept fully appraised of the spend on this budget through the quarterly budgetary reports. 

RESOLVED:

1)  That the revenue budget proposals for services within the remit of this Committee, as set out in Appendix A, be agreed;

2)  That Policy and Resources Committee be recommended to retain the budget of £200,000 per year for the local plan review with the additional caveat that they look in more detail as to whether the budget is sufficient for the ongoing requirements of the local plan review.