Issue - meetings

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.