The Medium Term Financial Plan (MTFP) set out the key financial management principles and budget assumptions.  It was then used as the framework for the detailed budget setting process to ensure that the Council’s resources were managed effectively in order to meet its statutory responsibilities and deliver the priorities of the Council over the medium term. 

The report provided the Policy, Finance and Resources Committee with an update on the Councils:

i.              Revenue and capital projected outturn position as at the end of September 2016, including the review of the Treasury Management Strategy Statement and Annual Investment Strategy.

ii.            Medium Term Financial Strategy for 2017/18 to 2019/20.

Cllr Mrs McKinlay MOVED and Cllr Kerslake SECONDED the recommendation in the report and a vote was taken by a show of hands and it was:

RESOLVED  

That the committee:

1.    Agreed the projected outturn for 2016/17 of the Council’s General Fund revenue budget as at 30 September 2016, as detailed in paragraph 3 of the report.

2.    Agreed the projected outturn position for 2016/17 of the Council’s HRA at 30 September 2016, as detailed in paragraph 4 of the report.

3.    Agreed the current projected position for 2016/17 of the Council’s capital budget as at 30 September 2016, as detailed in paragraph 5 of the report.

4.    Agreed the Treasury Management Activity for the period 1 April 2016 to 31 October 2016 as detailed in paragraph 6 of the report.  

REASONS FOR RECOMMENDATION

Effective financial management underpinned all of the priorities for the Council and would enable the Council to operate within a sustainable budget environment.