The Council Meeting has noted the updated forecasts for the Council’s finances for the period 2014/15 to 2016/17 taking account of the 2014/15 and 2015/16 local government finance settlement published on 5 February 2014.
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.