Cabinet resolved to:
(i) Note that the Council had a projected balanced budget in respect of 2016/17;
(ii) Note the additions and amendments to the Medium Term Financial Strategy, as set out in sections 2, 3, 4 and 5 of the report;
(iii) Note that the Council’s budget strategy incorporated the 2% Council Tax charge in respect of the social care precept, as set out in paragraph 5.4 of the report;
(iv) Note that the social care precept of 2% would be charged in addition to a 1.99% increase on Council Tax proposed for 2016/17;
(v) Note that the Government had yet to announce whether the London Enterprise Panel (LEP) top slice would be applicable for 2016/17, which could reduce the Council’s overall funding by c£1m as set out in paragraphs 6.6 to 6.8 of the report, and that should a LEP top slice be applicable, Members would be requested to approve a drawdown equivalent to the level of the top slice from reserves to enable the Council to set a balanced budget for 2016/17;
(vi) Agree to fund £2m from reserves to mobilise the Ambition 2020 programme from April 2016 onwards, as set out in section 9 of the report; and
(vii) Agree to the Council’s capital bids for 2016/17 to 2019/20, as set out in section 10 and Appendix 2 to the report.