Issue - meetings

To consider a report of the Executive Councillor (Finance)

(Note: Publication of this report has been delayed until Friday 9 December 2011. Details of the Local Government Finance Settlement for 2012-13 were published on 8 December 2011 and it is necessary to consider what bearing, if any, this has on the content of the report.)

Officer contact: Steve Houston, 0161 474 4000, steve.houston@stockport.gov.uk

The Executive Councillor (Finance) submitted a report (copies of which had been circulated) providing the Executive Meeting with updated information on the prospects for the Council’s finances for the medium term, taking as its starting point the previous forecasts for 2012-13 and 2014-15 considered by the Executive at its meeting on 5 September 2011.

RESOLVED – That

(i)            the range of financial forecasts for 2012-13 to 2014-15 and the key issues to be addressed in formulating a response to the financial challenges facing the Council be noted;

(ii)          the revised estimates set out in the report be approved and the adjustments and resultant indicative spending plan as set out in Appendix 1 be agreed;

(iii)         the indicative savings requirement of £12.035m for 2012/13 be noted;

(iv)         Executive Councillors and Corporate Directors be requested to continue to develop and implement spending plans and savings proposals to meet the indicative savings requirements for 2012-13 and to report on progress, and

(v)          the necessary steps continue to be taken to agree a final balanced budget proposal for 2012-13 and an updated Medium Term Financial Plan to 2014-15 for presentation to the Council Meeting on 23 February 2012.