Issue - meetings

Budget 2020/21 & Medium Term Financial Strategy

Meeting: 23/12/2019 - Cabinet (Item 73)

73 COUNCIL BUDGET 2020/21 & MEDIUM TERM FINANCIAL STRATEGY pdf icon PDF 147 KB

Additional documents:

Minutes:

The Cabinet Member for Finance and Resources introduced a report, as part of the Council’s formal budget process, as set out in the constitution and in accordance with the legal requirements to set a balanced and sustainable budget for 2020/21.

 

The report also presented an update on the Medium Term Financial Plan (MTFP) covering the period from 2021/22 to 2024/25.

 

Councillor Janette Williamson introduced the report and stated how the challenge of setting a fair, sustainable and balanced budget gets more difficult every year, as austerity policies continued to bite.

 

Cabinet noted that, this year, the Council was facing an almost insurmountable financial challenge, with growing demand for services, that meant it had to find ways to reduce spending (or raising income) by £32 million in the forthcoming financial year, in addition to more than £200million in financial cuts it had been forced into delivering since 2010.

 

Cabinet was apprised that the Council was working hard to generate extra income in the future to aid the regeneration of Birkenhead town centre and other areas of the borough – which would in turn provide income from council-owned sites for years to come.

 

Members expressed support for this approach and re-enforced their commitment to broader community wealth building initiatives focused on keeping wealth in Wirral for the benefit of local residents and businesses.

 

A Member highlighted his deep concerns relating to the impact of financial cuts to Local Government funding that had seen various knock on effects within the Children’s Services budget. He informed that it was Members’ responsibility to continue to highlight concerns regarding the impact of the cuts on families, and the extreme pressures placed on Local Authorities as a result. He further informed that the number of children in care had doubled since 2010, and how prior to the austerity cuts to funding the Council had been better placed to deliver interventions before matters reached crisis point.

 

Cabinet reiterated their commitment to find innovative ways to use resources to improve the borough and the quality of life of its residents.

 

On a motion by Councillor Janette Williamson, seconded by Councillor Pat Hackett, it was –

 

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.