Decision details

The Cabinet will be presented with an update on the Council’s MTFS for 2015/16 to 2019/20 and the impact of the Chancellor of the Exchequer’s Emergency Budget, and will be asked to approve any necessary budget adjustments.

Cabinet resolved to:

(i)  Agree the Council’s MTFS as detailed in the report and note the projected circa £72m budget shortfall from 2016/17 through to 2020/21;

(ii)  Agree to the creation of the Ambition 2020 programme as the vehicle for identifying options to close the projected budget gap and deliver the Council’s ambitions;

(iii)  Agree the allocation of £1m to fund the initial stages of the Ambition 2020 programme;

(iv)  Agree to allocate up to £0.5m from reserves to fund the Growth Commission;

(v)  Note the impact of the Chancellor’s Emergency Budget on 8 July on the Council’s in-year position; and

(vi)  Agree that officers commence a savings process in respect of the 2016/17 budget gap of £5.71m, in the first instance working these up as “quick wins” in the Ambition 2020 programme.