COUNCIL BUDGET 2020/21 & MEDIUM TERM FINANCIAL STRATEGY
Decision Maker: Cabinet
Decision status: Recommendations Approved
Is Key decision?: Yes
Is subject to call in?: Yes
The Council has a legal requirement to set a balanced budget in March 2020 for the 2020/21 financial year. This report sets out the actions, proposals and main risks to setting a balanced budget for 2020/21.
The MTFP supports the delivery of the Wirral Plan and is key to ensuring the Council is financially stable. Progress against the MTFP is monitored throughout each year, as part of routine financial management, to ensure that plans are on track and any necessary corrective action is taken at the earliest opportunity.
Resolved – That:
(1) the financial proposals for 2020/21 that will be subject to consultation and further consideration by Cabinet in February 2020 be approved;
(2) the financial challenges facing the Council in setting a sustainable and balanced budget for the MTFP period from 2021/22 to 2024/25 be noted;
(3) the approach the Council is taking to close the funding gap in future years be noted; and;
(4) that an updated Budget Report and MTFP be presented to Cabinet in February 2020.
Publication date: 23/12/2019
Date of decision: 23/12/2019
Decided at meeting: 23/12/2019 - Cabinet
Effective from: 08/01/2020