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Details
Business Item
Draft Medium Term Financial Strategy
Date of Decision
Tue 1 Nov 2022
Description
Report of the Cabinet Member with responsibility for Resources
Matter for Decision (to consider...)
To approve an updated draft Medium Term Financial Strategy (MTFS), taking account of new and revised risks in order for the Council to set a balanced budget that delivers its priorities for the period under review 2022/23 (revision of the current year budget) to 2026/27.
Service Area
Financial Services, Corporate Performance & Risk Management
Service Area 2
Not Applicable
Is Decision District Wide
Yes
Decision Made
1. That the draft Medium Term Financial Strategy attached as Appendix A to report ES/1327 be approved.
2. That it be approved that Members and officers develop proposals to set a balanced budget for 2023/24 and beyond.
Reason for Decision
Approving an updated Medium Term Financial Strategy takes account of new and revised risks in order for the Council to be able to set a balanced budget that delivers its priorities for the period under review 2022/23 (revision of the current year budget) to 2026/27.
Alternative Options Considered and Rejected
The consideration of the Medium Term Financial Strategy by Members at an early stage of the budget process is essential, especially in order to commence actions to achieve a balanced budget and sustainable medium-term position. Setting a balanced budget for the coming year is a statutory requirement, therefore no other options are considered appropriate.
Any Declarations of Interest Declared
None.
Any Dispensation Granted
None.
Decision Criteria
This Decision does not contain any decision criteria records.
Wards
Aldeburgh and Leiston; Beccles and Worlingham; Bungay and Wainford; Carlford and Fynn Valley; Carlton and Whitton; Carlton Colville; Deben; Eastern Felixstowe; Framlingham; Gunton and St Margarets; Halesworth and Blything; Harbour and Normanston; Kelsale and Yoxford; Kesgrave; Kessingland; Kirkley and Pakefield; Lothingland; Martlesham and Purdis Farm; Melton; Orwell and Villages; Oulton Broad; Rendlesham and Orford; Rushmere St Andrew; Saxmundham; Southwold; Western Felixstowe; Wickham Market; Woodbridge; Wrentham, Wangford and Westleton
Topics
This Decision does not contain any Topic records
Overview and Scrutiny
This Decision does not contain any Overview and Scrutiny records.
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Decision History
| 21/10/2022 12:04:00 | Matt Makin | Business Item Created | |
| 21/10/2022 12:04:00 | Matt Makin | Committee Added | Cabinet |
| 21/10/2022 12:04:00 | Matt Makin | Meeting Added | 01/11/2022 6:30PM |
| 21/10/2022 12:04:30 | Matt Makin | Ward Added | Aldeburgh and Leiston |
| 21/10/2022 12:04:30 | Matt Makin | Ward Added | Beccles and Worlingham |
| 21/10/2022 12:04:30 | Matt Makin | Ward Added | Bungay and Wainford |
| 21/10/2022 12:04:30 | Matt Makin | Ward Added | Carlford and Fynn Valley |
| 21/10/2022 12:04:30 | Matt Makin | Ward Added | Carlton and Whitton |
| 21/10/2022 12:04:30 | Matt Makin | Ward Added | Carlton Colville |
| 21/10/2022 12:04:30 | Matt Makin | Ward Added | Deben |
Approval/Comments
No history found.