Setting the 2020/21 budget and updating the medium term financial strategy and treasury management strategy
To agree the draft 2020/21 budget and associated medium term financial strategy and treasury management strategy for recommendation to Council on 14 February.
The proposed budget reflects current and expected service delivery requirements and the provisional local government settlement announced on 20 December. Overall the base budget for 2020/21 is proposed to increase to fund budget pressures and new initiatives. Savings of £2.4m in 2020/21 remain and an increase in council tax of 3.9% (inclusive of 2% adult social care precept) is proposed to deliver a balanced budget.
The draft medium term financial strategy (MTFS), attached at appendix 1, has been extended to 2023/24 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: Recommendations Approved
Wards affected: (All Wards);
Notice of proposed decision first published: 06/02/2020
Decision due: 30 January 2020 by Cabinet
Lead member: Cabinet member finance and corporate services
Lead director: Chief finance officer
Department: Corporate Support Centre
Contact: Josie Rushgrove, Head of corporate finance Email: email@example.com Tel: 01432 261867.
- 06/02/2020 - Setting the 2020/21 budget and updating the medium term financial strategy and treasury management strategy