Decision details
Money Matters - 2015/16 Financial Position and Revised Medium Term Financial Strategy
Decision Maker: Executive Scrutiny Committee, Cabinet
Decision status: Recommendations approved
Is Key decision?: No
Decisions:
The Deputy Leader of The County Council presented a report setting out the Financial Position as at 30June 2015; the latest position in respect of the County Council's reserves; and the County Council's updated financial outlook and Medium Term Financial Strategy for the period 2016/17 to 2020/21.
Resolved: That:
i. the forecast overspend of £33.251m on the revenue budget in 2015/16 and ongoing pressure of £45.646m be noted
ii. the position in respect of the Council's reserves be noted and the transfers outlined in the report be agreed
iii. the revised funding gap of £223.200m as set out in the revised financial outlook forecast for the Council be noted.
Divisions Affected: (All Divisions);
Contact: Damon Lawrenson Email: damon.lawrenson@lancashire.gov.uk.
Report author: Damon Lawrenson
Date of decision: 12/08/2015
Decided at meeting: 12/08/2015 - Cabinet
Accompanying Documents: