| Item | Description | Resolution |
|---|---|---|
| PART 1 - PUBLIC | ||
| MATTERS FOR RECOMMENDATION TO THE CABINET | ||
| FIP 13/038 |
Medium Term Financial Strategy |
Further to Minute FIP 13/024, the report of the Director of Finance and Transformation set out the high level impact of the 2013 Spending Review and subsequent consultation papers on the Council's finances and, in turn, the Medium Term Financial Strategy. Members were advised that an early assessment indicated that the first savings tranche would need to increase by £200,000 to £1.1m. It was therefore recommended that the additional pressure be tackled immediately and reference was made to the series of reviews being undertaken to identify further efficiencies and savings opportunities. RECOMMENDED: That (1) it be noted that an early assessment of the impact of the Spending Review 2013 is to increase the first savings tranche by £200,000; and (2) alongside the reviews being undertaken by the Overview and Scrutiny Committee, appropriate work be progressed by the Management Team with a view to achieving the revised savings target of £1.1m by April 2014. *Referred to Cabinet |