Decision details

The Corporate Portfolio Holder presented the report to Members.

He advised that a four year view had been taken and it was projected that by 2018/19 the Council would need to be spending £1.4 million a year less than it was now. He stated that the Council could only spend the money it had and not spend any more. He explained that as part of continuing sound financial management over a number of years the savings target would be met through a variety of strategies including income generation, continuing efficiencies and better use of the Authority’s asset portfolio.

In response to a question from the Chairman, Councillor N J Rushton advised Members that it had been assumed there would be no increase in Council Tax over the next four years.

It was moved by Councillor N J Rushton, seconded by Councillor R Blunt and

RESOLVED THAT:

Cabinet approves the Medium Term Financial Strategy as outlined in this report and notes the outline timetable for the 2015/16 budget process.

Reason for decision: Requirement of the budget setting process.