The Director of Finance presented the annual update of the Medium Term Financial Strategy, the latest of which was agreed by Cabinet on 23 July 2008. The aim was to give Cabinet a strategic overview highlighting the significant issues to be considered in financial planning and informing future priorities. It had been refined to reflect the information from the Chancellor of the Exchequer Budget report and the revised Corporate Plan agreed in April 2009.

Resolved –

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

(2)  That regular updates of the financial projections be reported to Cabinet and to the Council Excellence Overview & Scrutiny Committee.