The report proposes the medium term financial planning framework for 2014-2015 through 2017-2018.

1.         That the risks and uncertainty surrounding the 2015 General Election and the likelihood of further austerity measures in the years following be recognised.

2.         That the proposed framework for updating the Medium Term Financial Plan and the preparation of a budget for 2014/15 be endorsed.

3.         That the timetable for the consultation process be endorsed.

The Executive considered a report from the Deputy Leader and Executive Member for Corporate Resources that proposed the medium term financial planning framework for 2014/15 through to 2017/18. 

The Deputy Leader and Executive Member for Corporate Resources highlighted the outcome of the Government’s recent Spending Review.  It was anticipated that the final Local Government Finance Settlement would not be known until December 2013.

In response to a question, the Deputy Leader and Executive Member for Corporate Resources explained that he did not anticipate that the Council would allocate grants to the town and parish councils in 2014/15 as this would need to be financed from the Council’s own resources, but this would become clearer when the Executive put forward its draft budget proposals in December.

Reason for decision:  To put in place a planning framework to meet the financial challenges faced by Central Bedfordshire Council over the medium term.

RESOLVED

1.      that the risks and uncertainty surrounding the 2015 General Election and the likelihood of further austerity measures in the years following be recognised;

2.      that the proposed framework for updating the Medium Term Financial Plan and the preparation of a budget for 2014/15 be endorsed; and

3.      that the timetable for the consultation process be endorsed.