Decision details

Medium Term Financial Plan - Financial Landscape and Forecasts 2014/15 to 2016/17 (Update following the Local Government Finance Settlement)

Decision Maker: Executive

Decision status: Recommendations approved

Is Key decision?: No

Is subject to call in?: Yes

Purpose:

The purpose of the report is to update the forecasts for the Council’s finances for the period 2014/15 to 2016/17 following publication of the provisional local government finance settlement on 18 December 2013. This report takes as its starting point the position set out in the previous report considered by the Executive at its meeting on 17 December 2013.

Decision:

The Executive Meeting considered an update on forecasts for the Council’s finances for the period 2014/15 to 2016/17 following the announcement of the 2014/15 and 2015/16 local government finance settlement on 18 December 2013, and were informed that since publication of the report the Government had published the final settlement for 2014/15 that included around £12,000 of additional Revenue Support Grant for the Council. The Executive Meeting then agreed that

 

•   the details of the 2014/15 and 2015/16 local government finance settlement, in particular, the authority’s Settlement Funding Assessment figures be noted;

•   the financial forecasts for 2014/15 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 as set out in Section 4 of the report be approved;

•   the indicative cumulative savings requirement for 2014/15 of £0.867m (revised), £23.186m for 2015/16 and £40.984m for 2016/17 be noted.

Alternative options considered:

None

Interests and Nature of Interests Declared:

None

Wards Affected: (All Wards);

Equality and/or Environmental Impact Assessment: Not Applicable

Decision Reference: ED1588

Other reasons / organisations consulted

CLT, Members

Contact: Andy Moran, Corporate and Support Services Email: andrew.moran@stockport.gov.uk Tel: 0161 474 4086.

Report author: Andy Moran

Publication date: 12/02/2014

Date of decision: 11/02/2014

Decided at meeting: 11/02/2014 - Executive

Effective from: 19/02/2014

Accompanying Documents: