The report proposes the draft Budget for 2016/17 and updates the Medium Term Financial Plan approved by Council in February 2015.

That the draft budget proposals for 2016/17 be approved as the basis for consultation with the Overview and Scrutiny Committees and other interested parties.

The Executive considered a report from the Executive Member for Corporate Resources that proposed a draft budget for 2016/17 and updated the Medium Term Financial Plan (MTFP).  The Local Government Financial Settlement announced on 17 December 2015 and was significantly worse for Central Bedfordshire than had been anticipated both in absolute and comparative terms. Therefore proposals needed to be identified to respond to the reduction in funding support from Government over and above the proposals contained in the draft budget/updated MTFP.

The Government had made an assumption in its financial modelling that councils would raise council tax by both a 2% precept earmarked for adult social care and an assumed 1.75% for inflation in each of the next four years. 

Officers were still evaluating the Settlement as the Government’s figures were still being amended and a revised Appendix B, setting out the key elements of the Medium Term Financial Plan 2016/17 to 2019/20 was tabled at the meeting reflecting the latest position.

In response to questions, the Leader and the Executive Member for Corporate Resources explained that the Council would have to look at different ways of working.  The Overview and Scrutiny Committees would have an opportunity to examine the proposed savings as set out in the report. 

Reason for decision:  To enable consultation on the draft budget 2016/17 and Medium Term Financial Plan 2016-2020, prior to final recommendations being made by the Executive to Council in February 2016.

RESOLVED

that the draft budget proposals for 2016/17 be approved as the basis for consultation with the Overview and Scrutiny Committees and other interested parties.