Decision details

The committee considered the report which set out the allocation of the approved budgets for 2024-25 to the Corporate Policy Committee.

The Medium-Term Financial Strategy (MTFS) for Cheshire East Council for the four years 2024/25 to 2027/28 had been approved by full Council on 27 February 2024. Service committees were being allocated budgets for 2024/25 in line with the approved MTFS. The financial reporting cycle would provide regular updates on progress on delivery of the budget change items, the forecast outturn position, progress on capital schemes, movement on reserves and details of any supplementary estimates and virements.

Members thanked officers for the report and the RAG ratings/commentary which set out clearly the progress on implementation of MTFS proposals for 2024-25.

Members discussed the recommendation to remove the saving relating to the parish compact item from the MTFS. Some concerns were raised in relation to the proposal as it was felt that this would generate savings for 2025-26 onwards. It was confirmed that this item had been investigated which highlighted that the proposal would require growth funding for an additional post to administer the service and therefore the proposal was to remove the item at this time however officers were committed to working more closely with town and parish councils.

RESOLVED (by majority):

That the Corporate Policy Committee

1.    To note the decision of the Finance Sub Committee to allocate the approved revenue and capital budgets, related budget policy changes and earmarked reserved to the Corporate Policy Committee as set out in Appendix A.

2.    To note the financial reporting timetable for 2024-25 set out in Appendix B as approved at Finance Sub Committee on 22 March 2024.

3.    To note progress on the delivery of the MTFS budget policy change items, the RAG ratings and latest forecasts, and the actions to be taken to address any adverse variances from the approved budget.

4.    Agree to remove the parish compact item from the MTFS as it is not deliverable at present.