Decision details

The Committee:

(1)          Accepted the Four Year Settlement for Central Government in conjunction with the following actions:

a)            That the approved cost reduction plan is renamed the Efficiency Plan and the MTFS is retitled the MTFS and Efficiency Plan

b)            That the Chief Executive, in consultation with the Chairman and Vice Chairman of the Strategy and Resources Committee be authorised to make such further  changes as they consider appropriate to the MTFS and Efficiency Plan, for example, to enable the Council to respond to any emerging guidance or good practice and meet the 14 October deadline;

c)            That Members and Leadership Team develop the Efficiency Plan during October to January as part of the 2017/18 budget setting process.

(2)          The following overall revenue budget target for 2017/18:

a)            The preparation of estimates including options to reduce organisational costs by £556,000 to minimise the use of working balances and maintain a minimum working balance of £2.5m in accordance with the medium term financial strategy;

b)            The generation of at least £200,000 additional revenue from an increase in discretionary fees and charges, based on minimum overall increase in yield of 3% in 2017/18;

c)            That a provision for 2017/18 pay award is made of £180,000 which represents a 1% pay increase and 0.6% progression;

(3)          That further efficiencies be identified to address the budget shortfalls of £220,000 in 2017/18, £374,000 in 2018/19 and £688,000 in 2019/20;

(4)          That Capital Member Group seek to limit schemes included within the capital expenditure programme that enable retention of agreed minimum level of capital reserves