Decision details

Responding To Our Medium Term Financial Plan (LDR89/ RCG25)

Decision Maker: Cabinet

Decision status: For Determination

Is Key decision?: No

Is subject to call in?: Yes


The Cabinet considered a report outlining the latest update on its approach to responding to the unprecedented uncertainty outlined within the medium-term financial plan (MTFP) update presented to the Cabinet meeting in October, and detailing a series of proposals outlined in Section 5 of the report to support the balancing of the Council’s 2021/22 Budget.


The Cabinet then agreed to:-


·         Note the details of the report including the announcements made by Government since October and in the 2020 Spending Review;

·         Approve the update to the MTFP savings requirement following the 2020 Spending Review;

·         Approve the saving proposals set out in Appendix 1 to support the balancing of the Council’s 2021/22 Budget to provide a stable financial platform for the transformation programme linked to One Stockport needed to support the Council’s recovery and address the medium term financial challenge;

·         Note and comment upon as appropriate, the financial forecasts for 2020/21 to 2022/23, and the key issues to be addressed in formulating a response to the financial challenges facing the Council

·         Note that the forecasts and assumptions underpinning the MTFP will continue to be reviewed to ensure they remain robust and resilient as part of the Council’s 2021/22 budget setting process. A further update of the Council’s MTFP will be presented to Cabinet in February prior to the Budget Council meeting;    

·         Note the MTFP revised forecast cumulative savings requirement of £8.115m in 2021/22 rising to £26.802m in 2022/23; and

·         Take the final steps necessary to propose a balanced budget for 2021/22 to the Budget Council meeting on 25 February 2021.

·         Receive a further report to a future meeting of the Cabinet examining whether it was necessary or appropriate to move earmarked reserves into general balances.

Alternative options considered:


Interests and Nature of Interests Declared:


Wards Affected: (All Wards);

Decision Reference: CAB257

Declarations or conflicts of Interest: None.

Contact: Damian Eaton, Corporate and Support Services Email: Tel: 0161 474 3207.

Report author: Damian Eaton

Publication date: 23/12/2020

Date of decision: 22/12/2020

Decided at meeting: 22/12/2020 - Cabinet

Effective from: 01/01/2021

Accompanying Documents: