Content

Cabinet:

(1)         
noted potential funding gap of £20-30m as per paragraph 3.1.9
of the report;

(2)         
noted the immediate response as set out in paragraph 3.2 and the
longer-term transformational approach as set out in paragraph 3.3
of the report; and

(3)         
delegated to the Strategic Director of Resources the
authority to distribute any contingency budgets and/or reserves, as
described in paragraph 3.1.10 of the report, as per the
Council’s financial ground rules.

 

OPTIONS & ALTERNATIVES CONSIDERED

The Council has a legal duty to set a balanced budget and to
develop a financial strategy for the medium term. The revised MTFS
sets out potential challenges facing the Council in future
years.