Agenda item

Medium Term Financial Plan 2011/2012 - 2013/2014

Minutes:

The Cabinet considered a report on the Medium Term Financial Plan 2011/2012 to 2013/2014 relating to revenue and capital expenditure. The Portfolio Holder for Resources referred to the background to the Medium Term Financial Plan and drew attention to measures to maximise savings whilst maintaining services.

The Cabinet took account of the work undertaken by the Budget Jury and the issues raised by the Overview and Scrutiny Board.

RECOMMENDED:

(a) that the budget pressures identified as high in Appendix A of the report be included within the Medium Term Financial Plan as follows:

2011/2012 £304,000

2012/2013 £239,000

2013/2014 £239,000

(b) that the savings identified in Appendix B of the report be included within the Medium Term Financial Plan as follows:

2011/2012 £873,000

2012/2013 £1,458, 000

2013/2014 £1,794,000

(c) that income shortfalls identified in Appendix C of the report be included within the Medium Term Financial Plan as follows:

2011/2012 £622,000

2012/2013 £625,000

2013/2014 £625,000

(d) that the budget pressures identified as unavoidable in Appendix D of the report be included within the Medium Term Financial Plan as follows:

2011/2012 £261,000

2012/2013 £217,000

2013/2014 £217,000

(e) that the capital bids identified as high in Appendix E(i) of the report be included within the Medium Term Financial Plan as follows:

2011/2012 £737,000

2012/2013 £873,000

2013/2014 £1,467,000

(f) that the use of balances totalling £323,000 be approved.

(g) that the recommendations from the Overview and Scrutiny Board as set out in Appendix G to the report be noted, that no action be taken with regard to the recommendations on revenue bids (a) (i) to (iv) or on capital bids b (i) to (iii) but the (b) (iv) be approved.

(h) that the Prudential Indicators as set out in Appendix H be approved.

Supporting documents: