Decision details
Draft Financial Strategy 2009-2012
PDF 49 KBDecision Maker: Cabinet
Decision status: Recommendations Approved
Is Key decision?: Yes
Is subject to call in?: Yes
Purpose:
To propose the draft financial strategy for 2009-2012.
Decision:
THAT Cabinet recommends to Council the recommendations for updating the current Medium Term Financial Management Strategy and resource model highlighted in the report.
Reasons for the decision:
The current financial strategy set the financial framework for 2008-2011. The strategy now needs to be updated to allow the latest view of financial risks and pressures revealed by the corporate and service planning process.
Alternative options considered:
Alternative options for balancing the budget were examined that did not use reserves to manage the financial position. These approaches would have led to significant reductions in service.
Reason Key: Expenditure and strategic nature / impact on communities;
Details of any declarations of interest: Not Applicable.
Other reasons / organisations consulted
With Strategic Monitoring Committee.
Contact: David Powell, Acting Director of Resources, Brockington, 35 Hafod Road, Hereford, HR1 1SH Tel: 01432 383518.
Publication date: 20/02/2009
Date of decision: 19/02/2009
Effective from: 26/02/2009
Accompanying Documents:
- Medium Term Financial Management Strategy