The Council Meeting has noted 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.
The Executive considered the Medium Term Financial Plan financial landscapes and forecasts for 2016/17 to 2020/21 and updated Local Government Finance Settlement figures and agreed that:-
· 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.