Decision Maker: Dorset Council - Cabinet
Decision status: Recommendations Approved
Is Key decision?: Yes
Is subject to call in?: No
(a) That the updated cost pressures set out in the paper of 6 October 2020 and the validation work that has been carried out on these, be noted;
(b) That the amendments to the planning assumptions used in the Medium Term Financial Plan (MTFP), be noted;
(c) That the financial gap arising from (i) and (ii) above, be noted;
(d) Cabinet notes the tactical and transformation savings set out in the paper to start to close the financial gap, recognising that these are work in progress;
(f) That the Portfolio Holders work with officers to continue to identify and develop savings opportunities through tactical or transformational means;
(h) Cabinet continues to make the case to Government for additional funding given the unprecedented financial consequences of Covid-19;
(i) That Cabinet agrees the next steps leading up to the 2021/22 Budget being presented to full Council in February 2021.
Reason for Decision
Councils are required to set a balanced budget. Essentially this means that expenditure is balanced by income without unsustainable use of one-off, or short-term sources of finance.
This paper is coming to Cabinet to provide an update on the budget gap for 2021-22 and subsequent years and progress on action/savings to date. The paper proposes an approach to close the remaining gap.
Report author: Jim McManus
Publication date: 09/10/2020
Date of decision: 06/10/2020
Decided at meeting: 06/10/2020 - Dorset Council - Cabinet