17 Medium Term Financial Strategy Update 2018/19 to 2020/21 PDF 125 KB
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Minutes:
The Cabinet Member for Finance, Performance and Core Services presented an update report on the Council’s Medium Term Financial Strategy for 2018/19 to 2020/21.
The Cabinet Member referred to the issues that had helped to reduce the projected budget gap for 2018/19 and 2019/20 and the ongoing challenges faced by the Council in setting a balanced annual budget. Members also noted the risk matrix in respect of the planned £41.5m Transformation Programme savings up to 2020/21.
The Cabinet resolved to:
(i) Note the budget gap between 2018/19 to 2020/21 which had decreased from £15.616m, as reported in February 2018, to £11.505m in July 2018;
(ii) Note the budget gap for 2019/20 was now £4.62m; and
(iii) Note the process for closing the 2018/19 budget gap as set out in section 6 of the report.