The Deputy Chief Executive/Director of Finance presented the annual update of the Medium Term Financial Strategy agreed by the Cabinet on 13 October 2011 (minute 145 refers), the aim of which was to give a strategic overview highlighting the significant resource issues and principles as well as potential developments and related issues to be considered in financial planning and informing future priorities. The Strategy had been refined to reflect recent information from the Government and the revised Corporate Plan agreed in March 2011. The Director highlighted the issues contained within the Strategy and commented that responses from the ‘You Choose’ budget simulator consultation package would also help inform future priorities and the delivery of services.

Resolved –

(1)  That the Medium Term Financial Strategy be noted.

(2)  That regular updates of the budget projections be reported to the Cabinet and to this Overview and Scrutiny Committee.