The report proposes the medium term financial planning framework for 2017-18 through 2020-21, providing the committee with the opportunity to scrutinise and comment upon the proposals.

A link to the more detailed Executive report can be found here:-

http://centralbeds.moderngov.co.uk/ieListDocuments.aspx?CId=577&MId=5132&Ver=4

The Head of Financial Performance and Support delivered a report which set out a framework for the Budget Strategy and Medium Term Financial Plan (MTFP). Consideration was given to changes to local government funding in light of the impact of ‘Brexit’, acknowledging the associated challenges.

The Chairman highlighted the economic impact across the country and expressed the need for the Council to ensure flexibility within the MTFP in order to be able to react swiftly to the impact of change.

NOTED the report and AGREED that a further report be delivered to the Committee at a future meeting.

The report proposes the Medium Term Financial Planning framework for 2017-18 through 2020-21.

1.      That the risks and uncertainty surrounding the Medium Term Financial Plan be recognised.

2.      That the proposed framework for the updating of the Medium Term Financial Plan 2017/18 – 2020/21 and the preparation of a Budget for 2017/18 be endorsed.

3.      That the approach to consultation this year set out in the report be approved.

The Executive considered a report that set out the framework and process for the 2017/18 -2020/21 Medium Term Financial Plan with updated planning assumptions.  The report also considered the impact of possible changes in Local Government financing.

Reason for decision:  To enable the Council to have a framework to meet the financial challenges faced by Central Bedfordshire Council over the medium term.

RESOLVED

1.         that the risks and uncertainty surrounding the Medium Tern Financial Plan be recognised;

2.         that the proposed framework for the updating of the Medium Term Financial Plan 2017/18 – 2020/21 and the preparation of a Budget for 2017/18 be endorsed; and

3.         that the approach to consultation this year set out in the report be approved.