Decision details

Medium Term Financial Plan (MTFP) and budget strategy

Decision Maker: Cabinet

Decision status: Recommendations Approved

Is Key decision?: Yes

Is subject to call in?: No


To receive a budget update for 2022/23.


Cabinet members:


(a)           Noted the updated cost pressures set out in the paper and the validation work that had been carried out on them


(b)           Agreed the assumptions being used in the Medium-Term Financial Plan (MTFP);


(c)           Noted the financial gap arising from (i) and (ii) above;


(d)           Agreed the 2022/23 draft principles for budget setting;


(e)           Noted the approach to closing the budget gap that was set out in the paper, recognising that this was work in progress;


(f)             Agreed that Portfolio Holders work with officers to continue to identify and develop savings opportunities;


(g)           Noted the emerging national context set out in this paper;


(h)           Endorsed the next steps and timetable leading up to the 2022/23 budget being presented to full Council on 15 February 2022.


Reason to note and receive the report

This paper was presented to Cabinet to provide an update on the budget gap for 2022/23 and the subsequent years of the MTFP and to update on progress on action/savings to date.




Report author: Jim McManus

Publication date: 07/10/2021

Date of decision: 05/10/2021

Decided at meeting: 05/10/2021 - Cabinet

Accompanying Documents: