Issue - meetings
MTFS and Budget Proposals
Meeting: 26/01/2021 - Economic Regeneration and Leisure Committee (Item 219)
219 Medium Term Financial Strategy and Budget Proposals PDF 181 KB
Additional documents:
- Enc. 1 for MTFS and Budget Proposals, item 219 PDF 72 KB View as HTML (219/2) 10 KB
- Enc. 2 for MTFS and Budget Proposals, item 219 PDF 56 KB View as HTML (219/3) 10 KB
Minutes:
The Director of Finance and Business Improvement introduced the report which built upon the Medium-Term Financial Strategy presented to the Committee in December 2020. The Council’s budget gap had been reduced from £2.4 million to £1.6 million, with the proposals outlined designed to fill the budget gap over a three-year period.
The transformational nature of the savings proposed were highlighted, with specific attention drawn to the previously agreed savings of £152,000 from Maidstone Museum and that the work undertaken by the Economic Development Team in relation to the Capital Programme would be charged as capital rather than revenue expenditure.
The Committee expressed support for retaining an Economic Development Officer post given the impact of Covid-19 on the local economy. The Director of Finance and Business Improvement stated that the £860,000 provided was a one-off payment, with the Local Government Spending Settlement postponed until 2022. It was confirmed that the Policy and Resources Committee could be requested to release capital funding if a capital scheme was ready earlier than expected.
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 subject to the Policy and Resources Committee being requested to use part of the £860,000 Covid-19 Recovery Fund Grant to pay for a two-year fixed term Economic Development Officer; 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, subject to the Policy and Resources Committee being requested to progress the Maidstone Museum capital programme scheme and that reports be presented to te Committee on timings, with appropriate recommendations made.