Decision details

The Cabinet will be asked to consider the recommendations of the Overview and Scrutiny Committee and recommend to full Council, approval of the Medium Term Financial Strategy following its review.  This has been jointly produced with St Edmundsbury Borough Council.

RECOMMENDED TO COUNCIL (28 September 2016):

That

(A)     Subject to the correction of a typographical error, as indicated in (A) (3) below, the following recommendations considered by the Overview and Scrutiny Committee on 15 September 2016, as set out in Report No: OAS/FH/16/022, be approved:

(1)      The approach to delivering a sustainable medium term financial strategy 2016 -2020 as set out in Report No: OAS/FH/16/022, be supported.

(2)      Government’s offer of a four-year Finance Settlement be accepted, and the Head of Resources and Performance (Chief Financial Officer) be authorised to advise Government of Council’s decision.

(3)      That the Council’s existing Medium Term Financial Strategy (MTFS) document and the approach paper (Report No: OAS/FH/16/022)  be recognised as the Council’s Efficiency Plan, for the purposes of accepting any four-year Finance Settlement under (1) (2) above.

(B)     Approval be given to an allocation of £391,500 from its Strategic Priorities and MTFS Reserves, as FHDC’s share towards funding the in-year (and in some cases future years) Economic Development and Growth funding requests outlined in Appendix 2 to Report No: CAB/FH/16/041.