Agenda item

Medium Term Financial Strategy


The Cabinet considered a report detailing the latest projections of the Council’s Revenue and Capital Budgets for the period 2012/2013 to 2015/2016.  The paper proposed a strategy for securing saving requirements whilst maintaining the focus on protection for front line services wherever possible.  The Cabinet was informed that all employees had received their ‘Planning for the Future’ letters which provided Officers with the opportunity of sharing their plans and aspirations with regard to their potential career progression.


It was agreed that recommendations (d) and (e) of the report be taken on the grounds of urgency to enable necessary consultation processes to begin.




a)  That the Council’s current projected Revenue Budget for 2012/13 to 2015/16 be noted.


b)  That the assumptions underlying the Medium Term Financial Plan be noted.


c)  That the overarching savings strategy and targets as set out on Appendix A be approved and request further development of additional proposals to meet remaining budget deficit.


d)  That the areas of Directorate based savings proposals for as summarised in para 5.7 be agreed, and request officers, to implement them with immediate effect where possible.
and agree the specific proposals set out in section 5.15 requesting officers, to implement them with immediate effect where possible.(Taken as an urgent decision)


e)  That any in year under-spends arising as a result of early implementation of savings, be allocated as a 50/50 split between; further improving the protection afforded by the general fund balances and agreed directorate based invest to save initiatives.(Taken as an urgent decision)


f)  The Chief Executive as Head of Paid Service and the Strategic Director of Resources as the S 151 Officer following consultation with Commissioners be authorised to approve changes to the Council’s establishment as a result of delivery of the savings as at appendices A.


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