Issue - meetings

To consider the report of the Chief Officer (Financial Services) which presents an update on the Council’s medium term financial strategy for the period 2023/24 to 2027/28, setting out both the context and the factors that influence the shape of this financial plan.

The Chief Officer (Financial Services) submitted a report presenting an update on the Council’s Medium Term Financial Strategy for the period 2023/24 to 2027/28, and which set out both the context and the factors that had influenced the shape of the strategy.

Members highlighted the fast-paced nature in which the financial position continued to evolve.

Responding to an enquiry regarding the Capital Programme, a Member requested that further information be provided regarding the level of Capital expenditure which was being proposed that was not supported by external sources.

With regard to a Member’s specific enquiry regarding the Housing Revenue Account (HRA), the Board received further information regarding the potential implications for the HRA as a result of the evolving economic position.

In conclusion, given the current position, emphasis was placed upon the need for the Council, and the sector as a whole, to receive details of the Local Government Finance Settlement at the earliest opportunity in order to enable appropriate planning and consultation to be undertaken, with it being highlighted that collectively, the case needed to be made to Government for the Local Government sector to receive the appropriate resource.

RESOLVED – That the updated Medium Term Financial Strategy for 2023/24 to 2027/28, as appended to the submitted report, be noted.