Decision details
JOINT MEDIUM TERM FINANCIAL STRATEGY 2011/14 AND BUDGET UPDATE 2011/12
PDF 50 KBDecision Maker: Cabinet
Decision status: Recommendations Approved
Is Key decision?: No
Is subject to call in?: Yes
Purpose:
To agree the budget and Joint Medium Term Financial Strategy (MTFS) for recommendation to Council on 4 February 2011.
Decision:
THAT (a) the attached MTFS including the overall 2011/12 budget be agreed for recommendation to Council.
(b) a freeze of Council Tax for 2011/12 at 2010/11 levels be agreed for recommendation to Council; and
(c) an explanatory note on the funding of future capital projects be included in the Joint Medium Term Financial Strategy.
Reasons for the decision:
The proposed MTFS, shown in Appendix A, provides a financial planning framework for the next three years.
Alternative options considered:
Joint Management Team (JMT) has proposed a balanced budget for 2011/12 and this is summarised in the Financial Resource Model (FRM) in the attached MTFS. It incorporates inflation, service pressures and other spending requirements, the financing of which has been identified from within the Formula Grant, service efficiencies & reductions and council tax.
Wards Affected: (All Wards);
Publication date: 20/01/2011
Date of decision: 20/01/2011
Effective from: 26/01/2011