The Executive Meeting considered an updated forecast for the Council’s finances for the period 2013/14 to 2016/17 that had been revised since the report considered on 7 January 2013 following the announcement of the 2013/14 final local government finance settlement and 2014/15 revised provisional settlement on 4 February 2013.
The Executive Meeting then agreed that
· the details of the 2013/14 final local government finance settlement and 2014/15 provisional settlement, in particular, the authority’s Start-Up Funding Allocation and Business Rates Baseline figures be noted;
· the financial forecasts for 2013/14 to 2016/17, and the key issues to be addressed in formulating a response to the financial challenges facing the Council be noted;
· the indicative budget adjustments as set out at paragraph 6.3 be approved;
· proposals to either allocate or earmark previously unknown / uncommitted resources be brought forward in relation to:
· NHS funding to support social care and benefit health;
· Public Health Grant;
· New Homes Bonus; and
· the indicative cumulative savings requirement for 2013/14 of £4.716m and £14.598m for 2014/15 and the ‘post CSR’ forecasts to 2016/17 be noted.
The Executive Meeting considered a report on the forecasts for the Council’s finances for the period 2013/14 to 2016/17 taking account of the provisional local government finance settlement published on 19 December 2012 and has agreed that:-
· the details of the provisional local government finance settlement, in particular the authority’s Start-Up Funding Allocation and Business Rates Baseline figures be noted;
· the financial forecast for 2013/14 to 2016/17, and the key issues to be addressed in formulating a response to the financial challenges facing the Council be noted;
· the indicative budget adjustments set out in paragraph 3.3 of the report be approved;
· the indicative cumulative savings requirement for 2013/14 of £5.434m and £15.003m for 2014/15 in addition to the ‘post CSR’ forecasts to 2016/17 be noted;
· the Executive Councillors and Corporate Directors be requested to continue to develop spending plans and savings proposals to meet the remaining indicative savings requirement for 2013/14 and to report on progress;
· approval be given to taking the steps necessary to agree a final balanced budget proposal for 2013/14 and an updated Medium Term Financial Plan to 2014/15 for presentation to the Executive Meeting on 18 February 2013 and the Budget Council Meeting on 5 March 2013.