32.1 The Cabinet considered a report by the Chief Executive together with additional information regarding the Government’s multi year settlement
32.2 It was RESOLVED to:
1) note the updated Medium Term Financial Plan (MTFP) including the
changes to the forecast funding gap for 2017/19 and pressures
(Appendix 1 of the report) which
indicate a projected shortfall against previous plans of
£4.9m for 2017/18 (£7.5m for 2018/19) and detail a
number of additional financial risks;
2) note that plans are being developed
for savings totalling £23.8m in 2017/18 (£17.3m
previously included in the MTFP plus £6.5m additional) which
remains within our agreed planning range of
£70-90m;
3) ask Chief Officers to continue to
work on savings plans based on the areas of search identified in
Appendix 2 of the report;
4) consider the Scrutiny Committees’ initial comments on
areas of search set out in Appendix 3 of the report; and
5) recommend that County Council express a view on whether to accept the Government’s four year funding offer as the minimum funding level the Council could expect to receive and approve the efficiency plan set out in Appendix 4 of the report
Reason
32.3 To note the latest update of the Medium-Term Financial Plan and further information on the areas of search being progressed by officers as savings for 2017/18 and 2018/19.