Decision status: Recommendations Approved
Is Key decision?: No
Is subject to call in?: Yes
The Sub-Committee considered a report on indicative financial targets to support consultation on the development of the Cheshire East Medium-Term Financial Strategy 2024/25 to 2027/28.
The Head of Finance advised that the focus was on producing a balanced budget for the 2024-25 financial year only. In the current committee cycle, committees would consider their budget envelopes. They would then consider budget feedback in the January cycle before final recommendations were made by the Corporate Policy Committee to Council.
The Head of Finance also confirmed that officers would if requested be able to assist political groups with alternative budget proposals, and that further budget proposals could be considered during the January committee cycle, before the budget Council meeting in February. The Chair added that groups could start the conversations now and did not need to wait until January.
That the Sub-Committee
1. approves the indicative budget envelope for all committees as a way of setting financial targets in support of achieving a balanced budget for 2024/25;
2. notes that officers will develop further proposals in consultation with members to enable wider stakeholder consultation prior to approval by Council; and
3. notes that Committees will be presented with the opportunity to further review financial proposals, designed to achieve a balanced budget, as part of their January cycle of meetings prior to recommendations being made to Council for approval.
Publication date: 08/11/2023
Date of decision: 02/11/2023
Decided at meeting: 02/11/2023 - Finance Sub-Committee
Effective from: 16/11/2023