To formally propose the revenue budget and capital programme for 2007/08 as a basis for seeking the views of the Strategic Monitoring Committee.

THAT

(a)the review of the national context to the Council’s Medium-Term Financial Management Strategy outlined in this report be noted;

(b)              the review of the Herefordshire context to the Council’s Medium-Term Financial Management Strategy outlined in this report be noted;

(c)               the Medium-Term Financial Resource Model included as an appendix to this report updated to reflect Cabinet decisions on 18th January 2007 be endorsed;

(d)              the updated forecast outturn for the revenue budget in 2006/07 be noted with a further update to be included in the next Integrated Performance Report to Cabinet;

(e)              the draft revenue budget for 2007/08 outlined in this report be endorsed;

(f)                the updated forecast outturn for the capital budget in 2006/07 be noted with a further update to be included in the next Integrated Performance Report to Cabinet;

(g)              the Council establishes a corporate strategy on fees and charges as an integral part of the MTFMS when it is updated prior to the start of the next Performance Improvement Cycle;

(h)              the delivery of the benefits resulting from the Invest to Save/Invest to Mitigate proposals is managed using the benefits realisation process developed for Herefordshire Connects;

(i)                 the draft capital programme for 2007/08 outlined in this report be endorsed; and

(j)                 the Strategic Monitoring Committee be invited to consider the content of this report in time for their comments to be incorporated into a further report to Cabinet on 22nd February, 2007.

Cabinet has received a series of reports on the Medium-Term Financial Management Strategy (MTFMS) along side the draft Corporate and Annual Operating Plans since July 2006. At each stage, Cabinet has sought views from the Strategic Monitoring Committee. This report brings both the revenue and capital spending plans up to date reflecting the decisions taken by Cabinet on 18th January, 2007.

Alternative options have been considered at each stage of the Performance Improvement Cycle.

Not applicable