Issue - meetings

This report provides an update to the Financial Strategy and an outline plan for the 2014/15 and 2015/16 budget process.

RESOLVED:       That Cabinet agree to the refreshed Financial Strategy and the outline budget planning process for 2014-15 and 2015-16.

REASON:           To ensure the Council meets future financial challenges and produces a sound, prudent budget for 2014-15 and 2015-16.

Consideration was given to a report which provided an update to the Financial Strategy and an outline plan for the 2014/15 and 2015/16 budget process. As it was essential that the financial strategy supported the Council’s priority objectives it required sufficient resources to be directed towards the key priority areas.

Issues affecting funding from Local Business Rates, Council Tax and Fees and Charges were reported as were the cost pressures. Although the Council’s Plan and financial management appeared highly effective, there remained a number of areas for further development and improvement. Information on the medium and longer term strategies were reported at paragraphs 15 to 19 of the report.

Budget planning for the 2014/15 and 2015/16 was taking place, with presentation of the 2 year budget scheduled to go to Council in February 2014.  An outline plan of the budget process was set out at paragraphs 20 to 26 and Annex A.

Cabinet Members referred to the budget pressures in their areas and to future government funding uncertainties.

RESOLVED:       That Cabinet agree to the refreshed Financial Strategy and the outline budget planning process for 2014-15 and 2015-16.

REASON:           To ensure the Council meets future financial challenges and produces a sound, prudent budget for 2014-15 and 2015-16.