Decision details

The Cabinet considered an update the forecasts for the Council’s finances for the period 2018/19 to 2022/23 following the provision Local Government Finance Settlement announced in December 2017 and agreed that:-

·         the details of the 2018/19 Provisional Local Government Finance Settlement and its impact on the MTFP forecasts and assumptions presented in the report 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;

·         use not be made of the additional 1% Council Tax increase flexibility to propose a 2018/19 Council Tax increase of up to 5.99% but instead use be made of the additional 1% Council Tax increase flexibility to switch the increases in the General Council Tax and Adult Social Care Precept elements (i.e. 2.99% increase to the General element and 2% increase to the Adult Social Care Precept element);

·         the indicative budget adjustments as presented in this report including the use of the Summer Review adjustments to increase the Council’s Corporate Contingency budgets be approved;

·         the allocation of Corporate Contingency budgets as part of the 2018/19 budget to support the underlying budget pressures within the Children and Family Services and Adult Social Care Portfolios be noted;

·         the use of the one-off available resources to support the Council’s 2018/19 budget, MTFP and Reserves Policy be approved; and

·         the 2018/19 balanced budget position (subject to the Final Local Government Finance Settlement to be announced in February 2018) to be presented for approval to the Budget Council meeting on 22 February 2018 be noted.

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