The Service Director – Resources presented the report entitled Medium term Financial Strategy 2020-25 together with the following appendix:
· Appendix A- Medium Term Financial Strategy 2020-25.
The following Members asked questions and took part in the debate:
· Councillor Kate Aspinwall;
· Councillor Steve Jarvis;
· Councillor Sam North;
Members queried how the Commercialisation Strategy interacted with the Medium Term Financial Strategy and asked what estimates had been made regarding growth.
The Service Director- Resources advised that he expected these would form part of detailed budget setting.
Members suggested that the MTFS should contain a comment that it did not take account of any potential impacts of Brexit.
In response to a question about how the MTFS reflected housing growth, the Service Director – Resources advised that currently there was an assumption of one percent growth in Council Tax Base.
RECOMMENDED TO CABINET:
(1) That Cabinet ask the Service Director – Resources to update the MTFS to show that it did not take account of any potential impacts of Brexit;
(2) That Cabinet recommends to Full Council the adoption of the Medium Term Financial Strategy 2020-25 as attached at Appendix A.
REASON FOR RECOMMENDATIONS: To enable the Finance, Audit and Risk Committee to consider the report entitled Medium Term Financial Strategy prior to consideration by Cabinet.