Decision details

Medium Term Financial Plan Financial Landscape and Forecast 2020/21 to 2022/23 (LDR90/ RCG26)

Decision Maker: Cabinet

Decision status: Recommendations Approved

Is Key decision?: Yes

Is subject to call in?: Yes


Medium Term Financial Plan (MTFP) update as part of the 2021/22 budget setting process.


The Cabinet considered an update on the forecasts for the Council’s finances for the period 2021/22 to 2022/23 following the provisional Local Government Finance Settlement announced on 17 December 2020, and agreed to:-


·         Note the details of the 2021/22 Provisional Local Government Finance Settlement and the expected date of the announcement of the Final Local Government Finance Settlement;

·         Note, and comment upon as appropriate, the financial forecasts for 2021/22 to 2022/23;

·         Note and approve the indicative budget adjustments since the MTFP Update presented to the Cabinet meeting on 22 December 2020 resulting in savings requirement of  £7.551m in 2021/22;Approve the allocation of £5.511m of the corporate contingency budgets to Cash Limit budgets as part of the budget setting process as set out in paragraphs 3.4 to 3.6;

·         Note the Section 151 Officer recommendation to increase the Council’s General Fund Balance by £4.983m in 2021/22 aligned to his risk assessment of the budget and the adequacy of reserves and balances to support the 2021/22 Budget; and 

·         Take the necessary steps to propose a final balanced 2021/22 Budget including the proposed Council Tax increase to be recommended for approval at the Council meeting on 25 February 2021.

Alternative options considered:


Interests and Nature of Interests Declared:


Reason Key: Policy Framework & Budget;

Wards Affected: (All Wards);

Equality and/or Environmental Impact Assessment: N/A

Decision Reference: CAB280

Declarations or conflicts of Interest: None.

Forward Plan Reference: LDR90/ RCG26

Other reasons / organisations consulted

As part of 2021/22 budget setting process.

Contact: Jonathan Davies, Corporate and Support Services Email: Tel: 218 1025.

Report author: Jonathan Davies

Publication date: 10/02/2021

Date of decision: 09/02/2021

Decided at meeting: 09/02/2021 - Cabinet

Effective from: 17/02/2021

Accompanying Documents: