Agenda and minutes

(a)  8 January 2020

(b)  15 January 2020

Decision – That the notes of the meetings held on 8 and 15 January 2020 be approved.

Leader of the Council and Cabinet Member for Finance

Reasons for the Decision – To consider the Medium Term Financial Strategy (MTFS) for the period 2020-2025 and the draft budget for 2020/21.

Decision – (a) That in respect of the Strategic Plan:

(i)            The progress made regarding the update of the Strategic Plan 2018- 2022 be noted and it be referred to the County Council for approval on 13th February 2020;

(ii)          The Leader of the Council and Chief Executive be authorised to finalise the details of the Strategic Plan 2020/21 prior to final publication to ensure that it reflects any changes to the management and accountability structures of the County Council as part of the organisation’s transformation;

(b) That, in respect of the Medium Term Financial Strategy (MTFS) 2020-25 and the 2020/21 revenue budget:

(i)            The updates to the financial plans as set out in this report be noted;

(ii)          The comments of the County Treasurer on the adequacy of reserves and robustness of the budget be noted and that the County Council be asked to take note of these comments when considering the budget and council tax;

(iii)         The comments and recommendations of the Corporate Review Committee, together with the Cabinet’s response thereto, be noted;

(iv)         It be recommended to the County Council on 13th February 2020 that they consider and approve the following:

·         a net revenue budget of £479.595m for 2020/21;

·         planning forecasts for 2021/22 to 2024/25 as set out in Appendix 12 to the report;

·         a contingency provision of £4.000m for 2020/21;

·         a net contribution to reserves and general balances of £14.671m for 2020/21;

·         a budget requirement of £494.266m for 2020/21;  ...  view the full minutes text for item 92.