Decision details

Part A: Medium Term Financial Plan Update

Decision Maker: Cabinet

Decision status: For Determination

Is Key decision?: No

Is subject to call in?: Yes


The Cabinet has considered the outcomes of the Medium Term Financial Plan (MTFP) Update Review including the expected financial impact of the COVID-19 pandemic on the Council in 2020/21, and has:-


(1) Noted the outcomes of the MTFP Update Review particularly the identified COVID19 financial scarring impacts and changes to the MTFP forecasts and assumption approved in February;


(2) Noted that the Council’s savings requirement has increased to £23.341m in 2021/22 rising to £34.825m in 2022/23 subject to further review and updates during the financial year.


(3) Noted that the earmarked reserves identified as part of the Councils COVID19 strategy of response.


(4) Approved the recommendation to cap the use of earmarked reserves to support the Council’s COVID19 strategy of response at £20m over the medium term period 2021/22 to 2022/23;


(5) Noted that the MTFP does not include any forecasts or assumptions for the financial impact of a further wave of COVID19 and/or further national/local lockdown/restrictions; and


(6) Noted that due to the significant uncertainty, volatility and risk of the financial landscape  the assessment of the MTFP forecasts and assumptions will continue to be iterative with further updates to the MTFP reported to Cabinet as part of the 2021/22 budget setting process.

Alternative options considered:


Interests and Nature of Interests Declared:


Wards Affected: (All Wards);

Decision Reference: CAB249

Declarations or conflicts of Interest: None.

Contact: Jonathan Davies, Corporate and Support Services Email: Tel: 218 1025, Holly Rae, Corporate and Support Services Email: Tel: 0161 474 3014.

Publication date: 08/10/2020

Date of decision: 06/10/2020

Decided at meeting: 06/10/2020 - Cabinet

Effective from: 15/10/2020

Accompanying Documents: