Decision details

(Cabinet Member with Special Responsibility Councillor Hamilton-Cox)

Cabinet received a report from the Chief Officer Resources to provide Cabinet with an update final consolidated Medium Term Financial Strategy 2024/25 to 2028/29.

The options, options analysis, including risk assessment and officer preferred option, were set out in the report as follows:

The risks to the Council are contained throughout the MTFS and support strategies as the report seeks to consolidate these areas Cabinet may accept the consolidation or not.

The officer preferred option was that Cabinet accept the consolidated MTFS and refer it to Council.  The report sought to consolidate the various existing documents into one single strategy. The MTFS demonstrates the linkages between the Council Plan 2024 – 27, its supporting financial strategies and our monitoring processes which are key to its delivery.

Councillor Hamilton-Cox proposed, seconded by Councillor Wood:-

“That the recommendations, as set out in the report, be approved.”

Councillors then voted:-

Resolved unanimously:

(1)             That Cabinet agrees that the Council’s consolidated Medium Term Financial Strategy 2024/25 to 2028/29 be referred on to Council 13 March 2024 for information.

(2)             That, subject to final approval by Council 13 March 2024 the Flexible Use of Capital Receipts Strategy be included within the Medium-Term Financial Strategy 2024/25 to 2028/29

(3)             That delegated authority be given to the Portfolio Holder and Chief Finance Officer to undertake any required amendments to reflect additional content and/ or presentational adjustments.

Officer responsible for effecting the decision:

Chief Officer Resources

Reasons for making the decision:

Performance, project, and resource monitoring provides a link between the Council Plan and operational achievement, by providing regular updates on the impact of operational initiatives against strategic aims.