Decision details

The Cabinet will be presented with a progress report on the budget setting process for 2018/19 and beyond and asked to consider appropriate proposals that would assist the Council in setting a balanced budget for 2018/19.

The Cabinet resolved to:

(i)  Agree the implementation of the savings proposals for 2018/19 totalling £9.646m as set out in paragraph 6.2 of the report, subject to the outcome of consultation;

(ii)  Support the drawdown of circa £2.8m from general reserves in order for the Council to set a balanced budget for 2018/19 as set out in section 7 of the report, which would be reflected in the Council’s statutory budget setting report in February 2018;

(iii)  Note that carry costs of the Council’s Investment and Acquisition Strategy would be incorporated in the Medium Term Financial Strategy following the submission of the Be First business plan and the completion of detailed cash flow modelling, as referred to in paragraph 3.6 of the report;

(iv)  Agree to enter into the London Business Rates Pool, as set out in section 3.7 of the report;

(v)  Agree to set up a new Care Reserve of £688,000, to be funded from other reserves as detailed in paragraph 7.4 of the report; and

(vi)  Agree the proposed consultation process for the 2018/19 savings proposals, as set out in section 9 of the report.