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.