Issue - meetings

Finance

To consider the Medium Term Financial Strategy for 2022/23 to 2024/25.

Recommended to Council:

1.  That the Medium Term Financial Strategy (MTFS) for 2022/23 to 2024/25 be approved.

2.  That the Medium Term Financial Forecast, as shown in Annex 3 to the report, be noted.

Consideration was given to a report of the Finance Portfolio Holder which set out the Medium Term Financial Strategy for 2022/23 to 2024/25.

The Strategy set out the framework within which the 2022/23 budget would be prepared and also set out the Medium Term Financial Forecast for the General Fund income and expenditure, which would form the basis of the 2022/23 budget.

The strategy reviewed the impact that COVID-19 has had on the Council’s finances in 2021/22 and considered the ongoing effects this would have on budget planning in the medium term.

The Medium Term Financial Forecast was recommended for approval to ensure that the Council has a strategic approach to the management of its finances, and to enable available resources to be allocated to services in line with Council priorities over the medium term.

Having considered the options and for the reasons set out in the report, Cabinet agreed the following:

Recommended to Council:

1.  That the Medium Term Financial Strategy (MTFS) for 2022/23 to 2024/25 be approved.

2.  That the Medium Term Financial Forecast, as shown in Annex 3 to the report, be noted.