Issue - meetings

To consider the approach to corporate, business and financial planning for 2010 and beyond.  The report includes proposals to develop a Medium Term Financial Strategy, a budget planning process, and requests approval of the Capital Strategy for 2010 – 2013.

Consideration was given to the approach to corporate, business and financial planning for 2010 and beyond.  The report included proposals to develop a Medium Term Financial Strategy, a budget planning process, and requested approval of the Capital Strategy for 2010-2013.

The Portfolio Holder for Finance informed the Cabinet that at its meeting on 13 July 2009 the Corporate Scrutiny Committee had considered the Medium Term Financial Strategy and its recommendations had been circulated to the Cabinet Members.  It was confirmed that these had been  noted and would be taken into account.

RESOLVED

For the reasons set out in the report: -

1.  That the Medium Term Financial Strategy for 2010–13 be approved, and specifically that

a)     the issues raised in the review of last year, set out in Appendix A to the report, be noted;

b)     the financial process, set out in Appendix B to the report, be operated for a three year period and reviewed annually;

c)      a four stage process be operated for budget setting for the Revenue Budget and the Dedicated Schools Grant, set out in Appendix B to the report;

d)     the key planning assumptions, set out in Appendix C to the report, be agreed as the basis for scenario planning;

e)     the current financial scenario treatment of the funding gap and allocation to departments, set out in Appendix D to the report, be agreed;

f)        the issues raised in Appendix E to the report (Suggested Improvements to the Process) be approved:

g)     the budget setting timetable for 2010-2013, set out in Appendix G to the report, be approved.

2.  That approval be given to the Capital Strategy 2009-13, set out in Appendix F to the report.