Issue - meetings

To seek approval of the Medium Terms Financial Strategy for 2023/24 to 2027/28.

The Scrutiny Commission gave consideration to this report at its meeting on 26 October. An extract from the minutes of that meeting is attached.

Consideration was given to the medium term financial strategy for 2023/24 to 2027/28. In response to members’ questions, it was hoped that there would be progress on the development of the crematorium to report in early 2024. It was moved by Councillor Lynch, seconded by Councillor Bray and

RESOLVED – The medium term financial strategy for 2023/24 to 2027/28 be approved.

To consider the Medium Term Financial Strategy 2023/24 to 2027/28 and recommend it to Council for approval.

Members of Finance & Performance Scrutiny are invited to attend the meeting for this item.

Consideration was given to the medium term financial strategy (MTFS) for 2023/24 to 2027/28. During discussion, the following points were noted:

·         More detail on the housing revenue account would be included in the HRA budget and investment plan which would come before members

·         A business rates reset by the government would impact the MTFS, but was not expected until 2026/27 at the earliest and would lead to savings and new income being needed over two years of £1.9m if transitional relief of £7.7m was awarded by government in addition to this amount

·         It was anticipated that homelessness would be a recurring pressure due to the cost of living crisis, but that it would ease in later years

·         It was hoped that the pressure on the planning budget would ease if planning fee increases were implemented.

Councillor Moore entered the meeting at 6.53pm.

It was moved by Councillor Crooks, seconded by Councillor Williams and

RESOLVED – the report be endorsed for consideration by Council.