Issue - meetings
Medium Term Financial Strategy and Budget Proposals
Meeting: 05/01/2021 - Communities, Housing and Environment Committee (Item 123)
123 Medium Term Financial Strategy and Budget Proposals 
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- Enc. 1 for Medium Term Financial Strategy and Budget Proposals, item 123
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- Enc. 2 for Medium Term Financial Strategy and Budget Proposals, item 123
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Minutes:
The Director of Finance and Business Improvement introduced the report and referenced the Medium Term Financial Strategy presented to the Committee on 1 December 2020, whereby the financial implications and budget gap caused by Covid-19 were outlined.
As a result of the Local Government Finance Settlement and the Chancellor’s Spending Review, the Council’s budget gap had been reduced from £2.4 million to £1.6 million but remained significant. Proposed savings focussed on business transformation and protecting frontline services, totalling £0.7 million for this Committee.
The commitment to capital investment would continue and interest rates remained low. The proposed capital programme was expected to be worth over £80m over the next five years.
RESOLVED: That
1. The revenue budget proposals for services within the remit of this Committee, as set out in Appendix A to the report, be agreed for submission to Policy and Resources Committee; and
2. The capital budget proposals for services within the remit of this Committee, as set out in Appendix B to the report, be agreed for submission to Policy and Resources Committee.