Issue details

Setting the 2019/20 budget and updating the medium term financial strategy and treasury management strategy

To agree the draft 2019/20 budget and associated medium term financial strategy and treasury management strategy.

 

The proposed budget reflects current and expected service delivery requirements and the provisional local government settlement announced on 13 December. To deliver a balanced budget there is a need to deliver savings of £3.9m in 2019/20 and to increase council tax by 4.9% (inclusive of 2% adult social care precept). The draft medium term financial strategy (MTFS), attached at appendix 1, has been extended to 2021/22 based on current assumptions on future funding and service requirements.

 

The treasury management strategy, attached at appendix 4, includes the proposed borrowing and investment strategy, the council’s expected minimum revenue provision and the associated prudential indicators which demonstrate that the council’s proposed capital investment budget is affordable, prudent and sustainable.

 

Decision type: Budget and policy framework

Decision status: For Determination

Notice of proposed decision first published: 31/01/2019

Decision due: 15 February 2019 by Council

Contact: Josie Rushgrove, Head of corporate finance Email: jrushgrove@herefordshire.gov.uk Tel: 01432 261867.

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