Financial Strategy 2012/13 to 2020/21 including Phase 3 Savings for 2012/13 and 2013/14
SUMMARY
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.
Rachel Musson - Cabinet
Recommendations:
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.
Decisions reached:
As per the recommendations above.
Directorate Officer is Rachel Musson
Tel: 01743 252007
Committee Officer is Penny Chamberlain
Tel: 01743 252729 Fax: 01743 252713
Email: penny.chamberlain@shropshire.gov.uk
Attached items/documents:
Need help?- 12 Financial Strategy including phase 3 savings.pdf
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