Decision Taken By: CABINET
Decision No: D120129CAB
Date: 10th October 2012
Decision(s) and Reason(s)
Medium Term Financial Strategy and Initial Budgetary Guidance for the 2013/14 Budget Cycle
Minutes
The report considered the Council's finances in the context of the Medium Term Financial Strategy at the start of the 2013/14 budget setting process and sought endorsement of the budgetary guidance issued to staff preparing estimates for 2013/14.
It was anticipated that more detail would be available on the savings "package" at the extraordinary meeting on 19 November 2012.
The Cabinet resolved that:
1) the position be noted in terms of meeting the first savings tranche of £635,000 and that this will be revisited during the budget cycle as and when more up to date information is available;
2) the reasons outlined in paragraph 1.3.3 of the report for the funding gap having been taken in the wrong direction and the consequential impact on the number and/or size of the savings tranches be noted;
3) the budgetary guidance issued to Chief Officers preparing and considering estimates and fees and charges for 2013/14, as set out in paragraph 1.5 of the report, be endorsed; and
4) the view be endorsed that it is not the right time to consult the public on budget matters for the reasons given within the report.
Reasons: As set out in the joint report of the Director of Finance and Cabinet Member for Finance.
Signed Chief Executive: D Hughes
Date of Publication: 12 October 2012
This decision will come into force and may then be implemented on the expiry of 5 working days after publication unless it is called in.