Decision details

The Executive considered updated forecasts for the Council’s finances for the period 2015/16 to 2018/19 and agreed:

 (1) That the recent announcements in the March Budget and their potential impact on the planned reductions in local government expenditure and their impact on Settlement Funding Assessments be noted.

(2) The financial forecasts for 2015/16 to 2018/19, and the key issues to be addressed in formulating a response to the financial challenges facing the Council be noted.

(3) That approval be given to the adjustments to the medium term financial plan set out in the tables at paragraphs 3.2 and 4.2 of the report including reducing the Council Tax increase assumption from 2% per annum to zero;

(4) That the indicative cumulative savings requirement for 2015/16 of £22.5m, £39.4m for 2016/17 rising to £64.5m by 2018/19 along with the sensitivity analysis included at Appendices One and Three of the report be noted.

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