A report from the Executive Director of Finance, Resources and Customer Services is attached. (Key decision – reference number 4603)
(8.45 – 8.50 pm)
Councillor Dino Lemonides (Cabinet Member for Finance and Efficiency) introduced the report of the Executive Director of Finance, Resources and Customer Services (No.116) updating Cabinet on proposals for the second tranche of savings as part of the budget preparations for 2018/19.
1. That the first tranche of savings proposals totalling £5.4m had been reported to Cabinet in July 2017. An update on the second tranche of savings proposals was set out in Appendix 1 to the report.
2. The approach to balancing the budget for 2018/19 and the work streams that had been established as detailed in section 4 of the report.
3. That the provisional Local Government Finance Settlement details had just been announced and would be factored into the final budget report to Cabinet and Council in February.
Alternative Options Considered: Not applicable to this report.
DECISION: The Cabinet
1. Noted the progress made to date in the preparation of the 2018/19 budget.
2. Agreed the second tranche of savings proposals for 2018/19 and beyond set out in Appendix 1 of the report. These would be included in the Medium Term Financial Plan (MTFP) for 2018/19 and future years.
Reason: Cabinet needed to manage the 2018/19 financial planning process having regard to constraints in public spending.
(Key decision – reference number 4603)