Issue - meetings

Cabinet considered the Money Matters report setting out an update on the county council's 2019/20 revenue and capital financial position, proposed 3 year capital delivery plan as at the end of December 2019, an updated medium term financial strategy covering the period 2020/21 to 2023/24, and a proposed capital strategy.

Resolved: That:

i.  The current forecast underspend of £13.508m on the revenue budget in 2019/20, be noted.

ii.  The revised funding gap of £33.312m covering the period 2020/21 to 2023/24 as set out in the revised financial outlook for the council, be noted.

iii.  The budget adjustments for 2020/21, and following years' changes, included in the revised MTFS, be approved.

iv.  To make recommendations to Full Council on 13 February 2020 a Band D Council Tax for 2020/21 reflecting a 3.99% increase including 2% to be used for adult social care as per the new flexibilities.

v.  The contents of the county council's reserves position, be noted.

vi.  The expected capital expenditure outturn of £132.623m, be noted.

vii.  The revised 2019/20 capital delivery programme of £151.433m as presented within the body of the report, be noted.

viii.  The updated 3 year capital delivery programme 2020/21 to 2022/23, be noted.

ix.  To make recommendations to Full Council to approve the proposed capital strategy.