Issue - meetings

(i)              to approve the Medium Term Financial Strategy for the General Fund as outlined in Appendix 1; noting 2.4.6, 2.4.8, 2.4.11 and 6.32 from the appendix;

(ii)            to note that the 2021/22 Budget will be discussed by the Council on 2 March 2021;

(iii)           to instruct that the Chief Officer – Finance consider how the Council could develop its financial resilience with reference to the Cipfa Financial Resilience Index, reporting back as part of the budget setting process.

The Committee had before it a report by the Director of Resources, which (1) outlined all known factors affecting the financial position and financial sustainability of an organisation over the medium term; (2) drew out the scenarios that the Council faced; and (3) described the approach to address the conclusions.

The report recommended:-

that the Committee –

(a)      approve the Medium Term Financial Strategy for the General Fund as outlined in Appendix 1;

(b)      note that the 2021/22 Budget will be discussed by the Council on 2 March 2021; and

(c)      instruct that the Chief Officer – Finance consider how the Council could develop its financial resilience with reference to the Cipfa Financial Resilience Index, reporting back as part of the budget setting process.

The Committee resolved:-

(i)              to approve the Medium Term Financial Strategy for the General Fund as outlined in Appendix 1; noting 2.4.6, 2.4.8, 2.4.11 and 6.32 from the appendix; and

(ii)            to otherwise approve recommendation (b) and (c).