The Executive Meeting considered 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) and agreed 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.