Decision
(a) That
the outturn position for 2019/20 and the impact this had on reserves be noted;
(b) That
the Senior Leadership Team’s forecast for Dorset Council’s position at the end
of Quarter 1 be noted;
(c) That
the position on the capital programme be noted and the projects recommend by
officers (as set out in Appendix 1 of the report) be approved;
(d) That
the key milestones lifted from the draft timetable for budget/Medium Term
Financial Plan (MTFP) for 2021/22 be agreed (as set out in Appendix 2 of the
report);
(e) That
the inherited and revised draft budget assumptions to allow development of the
first iteration of the five-year MTFP be noted (as set out in Appendix 3 of the
report);
Reason for the Decision
The Council has responsibilities to deliver
against its 2019-20 Revenue Budget and 2019-20 Capital Programme and maintain
adequate reserves. These recommendations and accompanying report demonstrate
the Council’s performance in delivering against these responsibilities.
Cabinet need to understand the significant
financial impact and consequences of the Council’s response to the Covid-19
pandemic.
Understanding the financial position at the
start of the planning process is key to adopting the most appropriate
assumptions in the development of the MTFP.
Agreeing an initial set of assumptions will allow officers to develop
the first iteration of the MTFP and budget for 2021/22 for consideration and
conduct sensitivity testing.
Governance of the financial strategy will be
critical as we build the next MTFP and agreeing key milestones for the work and
member review/challenge are important at this stage to ensure maximum
engagement.