Decision

Cabinet

 

Approved
the Medium Term Financial Strategy 2023/24 to 2027/28 as set out in
Appendix A to the report;

 

Noted four year General Fund savings requirement of
£4.4m for the duration of the MTFS.

 

Noted that the Chief Finance Officer will work with
the Council’s       Strategic Leadership
Team and Cabinet to identify and deliver options that will achieve
the medium term saving targets identified within the
strategy;

 

Endorsed
the Financial Planning Framework to support the budget-setting
process for 2024/25;

 

Agreed
that the Chief Finance Officer be
requested to revise the Medium Term Financial Strategy and
re-present to Cabinet and Council for approval if material changes
to forecasts are required following future Government
announcements.

 

Noted that, as part of the annual CFO statement in
the budget report in February 2023, the Chief Finance Officer
(S151) was required to report on the adequacy of the proposed
financial reserves. At that point in
time the CFO confirmed that the level of reserves and balances were
adequate to mitigate the foreseeable risks. Note that, at this point in time the position, as reported, is
unchanged.