Decision details

MTFP Financial Landscapes and Forecasts 2018/19 to 2022/23 (update following 2017 Autumn Budget)

Decision Maker: Cabinet

Is Key decision?: No

Is subject to call in?: Yes

Purpose:

The purpose of the report is to provide an update on the Council 2018/19 to 2022/23 Medium Term Financial Plan following the 2018 Budget

Decision:

The Cabinet considered the Medium Term Financial Plan (MTFP) forecasts and assumptions for 2018/19 to 2022/23, taking account of local and national changes since the completion of the Summer Review, including the Government’s 2017 Autumn Budget announcements and agreed that:

 

·                the details of the report including the announcements made in the Government’s 2017 Autumn Budget be noted;

·                the financial forecasts for 2018/19 to 2022/23, and the key issues to be addressed in formulating a response to the financial challenges facing the Council be noted;

·                the budget reduction requirement for 2018/19 of £1.221m and the indicative cumulative reduction requirement of £16.556m in 2019/20 rising to £47.101m in 2022/23 be noted; and

·                the final steps necessary to propose a balanced budget for 2018/19 to the Budget Council meeting on 22 February 2018 continue to be taken.

 

 

Alternative options considered:

None

Wards Affected: (All Wards);

Equality and/or Environmental Impact Assessment: N/A

Decision Reference: CAB53

Declarations or conflicts of Interest: None

Other reasons / organisations consulted

N/A

Contact: Jonathan Davies, Corporate and Support Services Email: jonathan.davies@stockport.gov.uk Tel: 218 1025.

Report author: Jonathan Davies

Publication date: 20/12/2017

Date of decision: 19/12/2017

Decided at meeting: 19/12/2017 - Cabinet

Effective from: 30/12/2017

Accompanying Documents: