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.

Cllr Mrs McKinlay MOVED and Cllr Kerslake SECONDED the recommendations in the report and following a full discussion during which Cllr Mrs McKinlay agreed the proposal that the Committee should receive quarterly or 6-monthly updates on progress with the Town Hall remodelling, a vote was taken on a show of hands and it was

RESOLVED to

1.    Agree the Revised General Fund Position as shown in Table 6.

2.    Agree the current Capital Programme position as shown in Table 7.

3.    Agree the current HRA position as shown in Table 9.

Reasons for Recommendation

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