Issue - meetings

Report of the Strategic Director of Finance and Customer Services

Cabinet Member:     Councillor Alam

Commissioner:         Myers (in advisory role)

Recommendations:

1.    That approval be given to submit a request for a Four Year Settlement to the Government.

2.    That approval be given to the preparation of the required Efficiency Plan.

3.    That authority be delegated to the Leader of the Council and the Chief Executive to sign off the Council’s Efficiency Plan for submission to the DCLG by the deadline of 14^th October 2016. 

Consideration was given the Government’s Four Year Settlement Offer running from 2016/17 to 2019/20.

It was reported that the central element of the indicative funding allocations were the Revenue Support Grant projections for the next three financial years. The Council’s Medium Term Financial Strategy had assumed significant reductions in the Revenue Support Grant and the indicative allocations had suggested that acceptance of the Four Year Offer could provide some £9m additional Revenue Support Grant.

It was noted that the Four Year Offer was not without caveats with the potential for allocations to change in light of “unforeseen events” and it did not include potential changes to several significant funding streams. It was further noted that substantial changes in the Business Rates System, including the 2017 Rates Revaluation were also not reflected in the settlement figures within the Offer.

It was noted that authorities had until 14 October 2016 to accept the Offer and submit an Efficiency Plan to the Department for Communities and Local Government.

Resolved:-

1.    That approval be given to submit a request for a Four Year Settlement to the Government.

2.    That approval be given to the preparation of the required Efficiency Plan.

3.    That authority be delegated to the Leader of the Council and the Chief Executive to sign off the Council’s Efficiency Plan for submission to the DCLG by the deadline of 14^th October 2016.