Decision details

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.

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