To agree budget priority consultation arrangements to inform the budget setting process for 2018/19 development of the medium term financial strategy (MTFS).

Each year, by law, we have to set a balanced budget and full Council is responsible for approving the budget, following recommendations from cabinet. The budget and policy framework rules require cabinet to publish a timetable for the development of their proposals.

There is a statutory requirement under section 65 of the Local Government Finance Act 1992 to consult with representatives of business ratepayers on the proposed budget before its adoption. One of the principles of the council’s code of corporate governance is to ensure openness and comprehensive stakeholder engagement; the recommendations support this principle.

It is open to Cabinet to amend or revise the proposals, but in doing so regard must be had to the council’s budget and policy framework procedure rules.