Issue - meetings

To consider a report of the Deputy Leader of the Council and Executive Councillor (Support & Governance).

The Deputy Leader of the Council (Support & Governance) (Councillor Iain Roberts) submitted a report (copies of which had been circulated) providing an update on the Medium Term Financial Plan forecasts for the Council’s finances for the period 2016/17 to 2020/21 taking account of the 2016/17 final local government finance settlement published on 8 February 2016.

RESOLVED – That the updated Medium Term Financial Plan forecasts for the Council’s finances for the period 2016/17 to 2020/21 taking account of the 2016/17 final local government finance settlement published on 8 February 2016 be noted.

To consider a report of the Executive Councillor (Support & Governance)

This report updates the forecasts for the Council’s finances for the period 2016/17 to 2020/21 taking as its starting point the position set out in the previous reports considered by the Executive at its meeting on 16 December 2015.

The report will inform the development of a balanced and sustainable budget for 2016/17 and a longer term forecast.

NOTE: At the time of the publication of the agenda the final local government finance settlement has not been published by the Government. As a result it has not been possible to finalise this report for publication. The report will be published as soon as possible after the finalisation of the Council’s financial settlement.

Officer contact: Steve Houston/ Andy Moran, 0161 474 4000 / 4086, steve.houston@stockport.gov.uk  / Andrew.moran@stockport.gov.uk

The Executive Councillor (Support & Governance) submitted a report (copies of which had been circulated) updating the Executive on the forecasts for the Council’s finances for the period 2016/17 to 2020/21 following the final Local Government Finance Settlement announced on 8 February 2016.

The Executive Councillor highlighted some of the challenges facing the Council and some the key elements of the settlement, including a larger than anticipated reduction in revenue grant and the provision of non-recurrent transitional grant funding over 2 years.

The Executive Councillor (Independence & Wellbeing) highlighted the challenge of the reduction in Public Health grant.

RESOLVED – That in relation to the Medium Term Financial Plan - Financial Landscapes and Forecast 2016/17 to 2020/21 and update settlement figures:-

·         the details of the 2016/17 local government finance settlement and its impact on the forecasts presented in this report be noted;

·         the financial forecasts for 2016/17 to 2020/21, 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 5.3 of the report be approved;

·         the savings requirement for 2016/17 of £1.315m and the indicative cumulative savings requirement of £18m for 2017/18, £35m for 2018/19, £47m for 2019/20 and £61m for 2020/21 be noted;

·         the final steps necessary to propose a balanced budget for 2016/17 and an updated Medium Term Financial Plan for presentation to the Budget Council meeting on 3 March 2016 continue to be taken.