Medium Term Financial Plan and Budget Framework - Presentation
Minutes:
The Executive Director, Finance and Resources gave a presentation (attached) which covered the following areas:
· The current position – including level of savings.
· Actions including a review of the budget allocations.
· It had confirmed that Central Government had confirmed that full details of the budget would be received on 8th December 2018.
· The tariff adjustment was expected to be removed but the concern was what other changes, that the Council was currently unaware of would be made, for example there had been no feedback in respect of New Homes Bonus.
· The knock on impact in the reduction in the income from planning fees, for example Council Tax and New Homes Bonus.
· The new format for fees and charges – it was explained that this had been trialled at the Overview and Scrutiny Board’s Finance and Budget Working Group meeting.
· Key areas for consideration including being more commercial and self-sufficient.
Councillor B. Cooper, Portfolio Holder for Finance and Resources thanked the Executive Director, Finance and Resources and her team for their continued work and commented that there had been an improvement in the process from the previous year, whilst acknowledged that there was still room for improvement. He echoed the concerns around other changes which may balance out the removal of the negative tariff.