The Council Meeting has noted the Medium Term Financial Plan forecasts for the Council’s finances for the period 2018/19 to 2022/23.
The Cabinet considered the Medium Term Financial Plan (MTFP) forecasts and assumptions for 2018/19 to 2022/23, taking account of local and national changes since the completion of the Summer Review, including the Government’s 2017 Autumn Budget announcements and agreed that:
· the details of the report including the announcements made in the Government’s 2017 Autumn Budget be noted;
· the financial forecasts for 2018/19 to 2022/23, and the key issues to be addressed in formulating a response to the financial challenges facing the Council be noted;
· the budget reduction requirement for 2018/19 of £1.221m and the indicative cumulative reduction requirement of £16.556m in 2019/20 rising to £47.101m in 2022/23 be noted; and
· the final steps necessary to propose a balanced budget for 2018/19 to the Budget Council meeting on 22 February 2018 continue to be taken.