Decision details

The Executive Meeting considered the Medium Term Financial Plan financial landscape and forecasts for 2012/13 to 2014/15 and has

·         noted the position for the current year 2011/12 and that a detailed half year monitoring report be submitted to the Executive Meeting of 7 November 2011;

·         noted the financial forecasts for 2013/13 to 2014/15, and the key issues to be addressed in formulating a response to the financial challenges facing the Council;

·         approved the 2012/13 starting point set out in Appendix One and agreed the adjustments and the resultant indicative spending plan as set out in Appendix Three;

·         noted the indicative savings requirement for 2012/13 of £13.521m as disclosed in Appendix Five;

·         requested Executive Councillors and Corporate Directors to develop spending plans and savings proposals (including those arising from the Corporate Efficiency Plan) to meet the indicative savings requirement for 2012/13 and to report on progress to a future meeting, and

·         agreed to take the steps necessary to agree a final balanced budget proposal for 2012/13 and an updated Medium Term Financial Plan to 2014/15 for presentation to the Council meeting on 23 February 2012.

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