Decision Maker: Cabinet, Council
Decision status: For Determination
Is Key decision?: No
Is subject to call in?: No
Provide update on the MTFP
RESOLVED that Cabinet: -
(a) acknowledged the progress in delivering a sustainable balanced budget for 2024/25;
(b) endorsed the updated MTFP position; and
(c) approved the implementation of a voluntary redundancy process to support the delivery of a balanced budget for 2024/25 with delegation to the Chief Executive, in consultation with the Leader of the Council, to develop an appropriate policy.
To comply with accounting codes of practice and best practice which requires councils to have a rolling multi-year medium term financial plan. To present progress on delivering a balanced budget for 2024/25 and a high-level overview of the current medium term financial plan position. To ensure a prudent approach to financial management based on traditional local government financial management processes. To present ongoing progress against the Best Value Notice requirement to establish a sound budget setting process and begin preparation for the 2024/25 budget as soon as possible and draft a sustainable MTFP and three-year budget by the end of September 2023.
Report author: Adam Richens
Publication date: 24/11/2023
Date of decision: 22/11/2023
Decided at meeting: 22/11/2023 - Cabinet