Issue - meetings

The Cabinet considered a report of the Director of Corporate Resources regarding the Council’s short and medium term financial position in light of the current economic climate and the latest revenue budget monitoring position, and seeking approval for changes to the 2023-2027 Capital Programme.  A copy of the report, marked ‘Agenda Item 5’, is filed with these minutes.

Comments of the Scrutiny Commission, which had considered a report on the matter at its meeting on 6 September, were circulated separately and a copy is filed with these minutes.

Mr. Breckon CC commented on the severe financial pressures facing local government and expressed his support for the recommendations.

RESOLVED:

a)    That the comments of the Scrutiny Commission be noted;

b)    That the significant financial challenges faced by the County Council, including the Period 4 monitoring position from the current financial year be noted;

c)    That the proposed approach outlined in the report to updating the Medium Term Financial Strategy be approved;

d)    That the revised Capital Programme for 2023/24 to 2026/27 as set out in Appendix C to the report be approved.

(KEY DECISION)

REASONS FOR DECISION:

To approve the intended approach to the development of plans to address the latest financial position.

To agree the revised Capital Programme for 2023-27 which required amendment as a result of the latest forecast financial position.