Content

16.1

The Director of Finance and Commercial Services
presented a report setting out an early view of the medium-term
financial position for the Council. This report sets out the scale
of mitigations required to offset budget pressures and will be
updated in the autumn following details of work on the future
Target Operating Model and budget prioritisation
activity.
 
The setting of a robust and balanced Medium Term
Financial Strategy will enable the Council to remain financially
sustainable and deliver against the Council
Plan.

 

 

16.2

RESOLVED UNANIMOUSLY: That Strategy and
Resources Policy Committee:-

 

 

 

(a) approves the
Medium Term Financial Strategy as set
out in this report and summarised in Appendix 1;
 
(b) endorses the
proposed approach to ensure the financial sustainability of the
Council over the medium term; and
 
(c) notes the
Sheffield City Council Productivity Plan as mentioned in paragraph
1.8 of this report and attached at Appendix 4

 

 

16.3

Reasons for Decision

 

 

16.3.1

The Council is
required to both set a balanced budget and to ensure that in-year
income and expenditure are balanced. No other alternatives were
considered.

 

 

16.4

Alternatives Considered and
Rejected

 

 

16.4.1

No other alternatives were considered.