Issue - meetings

Report of the Deputy Chief Executive (Corporate Direction).

Council received the abbreviated Medium Term Financial Strategy in advance of completion of a full revision in autumn 2015. Arising from a recommendation of the Scrutiny Commission, additional information was provided to members regarding underspends over previous years. Members thanked the Finance team for their work. It was moved by Councillor Lynch, seconded by Councillor Bray and

RESOLVED –

(i)            the abbreviated Medium Term Financial Strategy be approved and the targets set out in 3.9 be endorsed;

(ii)           a complete revision of the Medium Term Financial Strategy be prepared and presented to Council in autumn 2015, following the general and local elections in May 2015.

Report of the Deputy Chief Executive (Corporate Direction).

The Scrutiny Commission considered the abbreviated Medium Term Financial Strategy (MTFS) which focussed on the forecast position and reminded members of the reduction in government funding and the benefits of the new homes bonus over the last few years. In discussing current projects, the Chief Executive confirmed that, contrary to recent comments on social media, Sainsbury’s had reiterated its commitment to the Crescent development, by commissioning a ‘fit out’ from June 2015.

Members requested that an additional page be included in the MTFS which showed underspends over the previous few years, to indicate how surpluses had decreased year on year. It was agreed that this would be provided as an additional paper for Council.

RESOLVED – the Medium Term Financial Strategy be RECOMMENDED to Council, with the additional information requested.