Decision details

Medium Term Financial Plan - Financial Landscape and Forecasts 2015/16 to 2018/19 (Update following the Local Government Finance Settlement)

Decision Maker: Executive

Decision status: Recommendations Approved

Is Key decision?: No

Is subject to call in?: No

Purpose:

The report is to update the forecasts for the Council’s finances for the period 2015/16 to 2018/19 following publication of the provisional local government finance settlement on 18 December 2014.

Decision:

The Executive considered the Medium Term Financial Plan Financial Landscape and Forecasts 2015/16 to 2018/19 and updated settlement figures and agreed that:-

 

·         the details of the 2015/16 local government finance settlement, in particular, the Authority’s Settlement Funding Assessment figures be noted;

·         the financial forecasts for 2015/16 to 2018/19, 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 at paragraph 4.3 of the report be approved;

·         the ‘surplus’ position for 2015/16 of £1.085m and £0.230m for 2016/17 and the indicative cumulative savings requirement for 2017/18 of £15.567m and £26.896m for 2018/19; and

·         the final steps necessary to propose a balanced budget for 2015/16 and an updated Medium Term Financial Plan for presentation to the Budget Council meeting on 26 February 2015 continue to be taken.

Alternative options considered:

None

Equality and/or Environmental Impact Assessment: N/A

Decision Reference: ED1700

Declarations or conflicts of Interest: None

Other reasons / organisations consulted

The Executive, leading group and opposition group leaders have been briefed on the details of the finance settlement contained in this report.

Contact: Steve Houston, Corporate Director for Corporate and Support Services Email: steve.houston@stockport.gov.uk Tel: 0161-474-4000, Andy Moran, Corporate and Support Services Email: andrew.moran@stockport.gov.uk Tel: 0161 474 4086.

Report author: Andy Moran

Publication date: 11/02/2015

Date of decision: 10/02/2015

Decided at meeting: 10/02/2015 - Executive

Accompanying Documents: