Decision details

2021/22 Budget and 2021/25 Medium Term Financial Strategy - Updated Information

Decision Maker: Cabinet

Decision status: Recommendations Approved

Is Key decision?: Yes

Is subject to call in?: Yes


Ahead of the Council meeting on 8 February this report updates Cabinet on the budget and the MTFS


That Cabinet:


1)       Notes the latest resource and spending information and the impact on the emerging budget proposals;


2)       Notes the Strategic Director for Resources’ risk assessment on the level of general reserves, as detailed in Appendix A;


3)       Supports the creation of a Commercial Risk Reserve to mitigate the financial risks of the Authority’s commercial activity, funded from the temporary saving on the Authority’s borrowing costs as a result of the reprofiling of the capital programme;


4)       Agrees to publish, in light of the information provided, their 2021/22 budget resolutions for recommendation to Council on 8 February 2021; and


5)       Authorises the Strategic Director for Resources to incorporate the outstanding resource information into the budget resolutions to be considered by Council on 8 February 2021.

Report author: Paul Williams

Publication date: 29/01/2021

Date of decision: 28/01/2021

Decided at meeting: 28/01/2021 - Cabinet

Effective from: 04/02/2021

Accompanying Documents: