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: