Issue - meetings

To consider a report by the Head of Financial Services.

Noted the contents of the report and agreed that in considering the financial forecast for the period ending 2018/2019 full Council’s attention be drawn to the uncertainty created by the current and future levels of inflation and the Government’s reaction to them through capping future grant settlements.

Further to Minute No. 08/23 and by way of a report by the Head of Financial Services (a copy of which is appended in the Minute Book) the Cabinet were acquainted with a financial forecast for the period up to 2018/19 together with the deliberations of the Overview and Scrutiny Panel (Corporate and Strategic Framework) thereon.

Having considered information contained in the report, and discussed the uncertainty as to future levels of Government grant and other funding, concerns over the increasing level of fuel and utility costs, the impact of the current economic downturn on land charges income and the implications of possible changes following the review of schemes in the Medium Term Plan, the Cabinet

RESOLVED

  (a)  that the contents of the report be noted; and

  (b)  that in considering the financial forecast for the period ending 2018/2019 the Council’s attention be drawn to the uncertainty created by the current and future levels of inflation and the Government’s reaction to them through capping future grant settlements.

To consider and comment on a report by the Head of Financial Services on the Council’s Financial Forecast prior to its submission to the Cabinet.

(Councillor T V Rogers, Executive Councillor for Finance and Environment, was in attendance for this item).

Consideration was given to a report by the Head of Financial Services (a copy of which is appended in the Minute Book) on the Council’s present position in relation to the Council’s financial forecast for the period to 2018/19.  Members were acquainted with potential variations in a number of sources of income and other factors that would affect the Council’s financial position and the likely effects on levels of reserves and of Council Tax.

In the ensuing discussion the Panel acknowledged the uncertainty created by inflation in the current economic climate. In response to a question by a Member on this subject, the Panel was informed of the potential effects on reserves for the Council of maintaining current service levels should high levels of inflation continue.  Following a further question on the implications of increases in the cost of fuel with particular reference to the waste collection service, it was reported that the Council’s options were being investigated as part of an ongoing review of Council travel.

With regard to the proposed spending plan for the period to 2018/19, the Panel has stressed the importance for the Council of identifying the necessary spending adjustments, especially in the medium term Whereupon, it was

RESOLVED

  that the report now submitted be endorsed for submission to the Cabinet and Council.