Decision details

The Portfolio Holder for Finance presented a report, a copy of which had been circulated to each Member and a copy of which appears as Appendix 'M' to these Minutes in the Minute Book.

Cabinet were informed of the work which had been carried out to refresh the Medium Term Financial Plan (MTFP) following the Government’s 2019 spending round and the fundamental annual refresh undertaken at the end of August 2019.

Further to this Cabinet were advised of the progress which had been made towards delivering a balanced budget for 2020/21 with the key financial risks faced by the Council being highlighted.

Cabinet were further informed of the progress in respect of the disaggregation of the 31 March 2019 Balance Sheet of the former Dorset County Council and provided with details of the grants made available by Government to support the potential costs falling to the Council following the decision of the United Kingdom to leave the European Union.

In presenting the report the Portfolio Holder for Finance highlighted the reduction of the funding gap from £15m to £7.7m, and the pressure on the budget over the forthcoming years. In addition Cabinet were informed of a typo within figure 1 on page 314 where the cumulative pressures column for 20/21 should read 23.2 and not 22.2.

A member of the Overview and Scrutiny Board on behalf of the Board expressed their thanks to the Portfolio Holder and the s151 officer.

RESOLVED that Cabinet note:-

(a)     That the gross MTFP funding gap over the three-year period to March 2023 has been revised to £23.9m;

(b)    That proposals have been formulated which close the funding gap for 2020/21 to £7.7m (from £15m); and

(c)     The need for Members and Officers of the Council to bring forward and examine robust and realistic budget proposals through the autumn which will ensure that the proper and lawful duties of the Council can be satisfied and a balanced budget for 2020/21 can be set.

Voting: Unanimous

Portfolio Holder: Finance