Issue - meetings

To consider the recommendation to be made to full Council on the Financial Strategy, in the light of the comments made by the Overview and Scrutiny Panel (Planning and Finance).

Recommended to full Council that a decision on the Financial Strategy be deferred until the winter cycle of meetings to enable further information to be considered.

Further to Minute No.04/49, further consideration was given to a report by the Director of Commerce and Technology (a copy of which is appended in the Minute Book) setting out three potential options available in terms of adopting a strategy for managing the Council’s finances in the period 2011/12. A report by the Head of Administration summarising the deliberations of the Overview and Scrutiny Panel (Planning and Finance) on the matter was also circulated.

Having been reminded of the Cabinet’s previous decision to delete option 2 from any future deliberations, the uncertainties of the Council’s future commitments and in noting the views expressed by the Overview and Scrutiny Panel, it was

RECOMMEND

that Council be requested to defer a decision on the Council’s Financial Strategy until the winter cycle of meetings.

To consider a report by the Director of Commerce and Technology on the Council’s future Financial Strategy.

  subject to the removal of option 2, agreed that the report of the Director of Commerce and Technology be submitted to the Overview and Scrutiny Panel (Planning and Finance) for comment and the Panel informed of the Cabinet's deliberations thus far and that the matter be considered further at the next meeting of the Cabinet.

Consideration was given to a report by the Director of Commerce and Technology (a copy of which is appended in the Minute Book) setting out three potential options available in terms of adopting a strategy for managing its finances in the period to 2011/12.

In so doing, Executive Councillors were acquainted with the assumptions made in setting and updating the budget for the current year, Government policies and grant regimes, the work which had been undertaken thus far in reviewing the Council's base budget and Medium Term Plan and the implications of adopting a service or tax driven alternative.  Having discussed the implications of future capping regimes and their possible impact and in deciding that option 2 should be deleted from any future deliberations, the Cabinet

RESOLVED

  (a)  that the report be submitted to the Overview and Scrutiny Panel (Planning and Finance) for comment and the Panel informed of the Cabinet's deliberations thus far; and

  (b)  that a further report be submitted to the next meeting of the Cabinet.