Financial Strategy 2012/13 to 2020/21 including Phase 3 Savings for 2012/13 and 2013/14
The Council’s Medium Term Financial Plan agreed by Full Council on 24 February 2011 set out the Council’s approach to managing its finances over the period 2011/12 to 2014/15. Since February 2011 there had been three further financial strategy reports to Cabinet in July, September and November which had refined the Council’s financial position and recommended approval of phases 1 and 2 of the 2012/13 and 2013/14 savings. This report provided the latest position on Council’s future resource and expenditure projections and, in line with the agreed 2012/13 budget timetable, recommended Phase 3 2012/13 and 2013/14 budget savings for approval by Council.
Cabinet - 02/08/2012
Rachel Musson - Cabinet
It was recommended that Members:-
1.1 Agree to accept Council Tax Freeze Grant for 2012/13 totalling £3.225m on the basis that Council Tax levied by Shropshire Council will be frozen for 2012/13;
1.2 Agree the Phase 3 savings for 2012/13 identified in this report at Appendix 4 and recommend them to Council for agreement on 23 February 2012;
1.3 Agree that where the implementation of Phase 3 savings extends beyond 1 April 2012, additional savings will be delivered in future years as detailed in the report;
1.4 Agree to adjust the 2012/13 budget by £1.210m and the 2013/14 budget by £1.500m to reflect issues identified by the Star Chamber process (see paragraph 5.3.5.);
1.5 Agree that the one off resource of £0.850m identified for 2012/13 as a result of the estimated collection fund outturn is allocated to provide additional resources to deliver the transformation programme in 2012/13;
1.6 Agree the 2012/13 gross and net budget for the Council as set out in Table 1 noting that service budgets within this cash limit will be set out in the Council’s Revenue and Capital budget book which will be published by 31 March 2012.
As per the recommendations above.
Directorate Officer is Rachel Musson
Tel: 01743 252007
Committee Officer is Penny Chamberlain
Tel: 01743 252729 Fax: 01743 252713
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