Agenda item

The Committee received an update on the Medium-Term Financial Strategy (MTFP).

The committee raised the following points in their discussion:

·       What lessons had been learnt from the current years overspend to ensure there wasn’t an overspend every year. It was explained they would look at how they scrutinise and triangulate external factors.

·       That no cost had been identified related to the consultation on changes to Minimum Revenue Provisions (MRP) but there may be a revision to the MRP policy.  

·       Whether officers were confident the budgets figures were realistic.

RESOLVED:

(a)   To note the report ‘Draft Budget Report 2024/25 and Medium-Term Financial Strategy (Post Settlement)’ considered by the Executive on 11 January 2024, and included with the report.

(b)   To look to formalise arrangements for examining the section 25 report during future budget setting processes.