Issue - meetings
Medium Term Financial Strategy 2022-27
Meeting: 01/12/2021 - Policy and Resources Committee (Item 101)
101 Draft Medium Term Financial Strategy 2022-27 PDF 107 KB
Additional documents:
- Enc. 1 for DRAFT MEDIUM TERM FINANCIAL STRATEGY 2022-2027, item 101 PDF 2 MB
- Webcast for Draft Medium Term Financial Strategy 2022-27
Minutes:
The Director of Resources introduced a report on the Council’s Medium-Term Financial Strategy (MTFS) which set out the financial implications of the Council’s Corporate Plan and how this could be funded over the period of five years. Each year, the Council was required by law to approve a balanced budget, where gross expenditure was matched by available resources. The MTFS set out the guiding principles and considerations to deliver a balanced budget.
The Interim Director of Finance elaborated on the report’s content, and the proposed MTFS 2022/23 to 2026/27, which provided a robust, consistent, and sustainable approach to establishing and maintaining a stable and prudent financial basis on which the Council’s services were to be delivered.
The MTFS was one of the key strategies of the Council and the five-year strategy set out the Council’s commitment to providing services that both met the needs of people locally and represented good value for money.
The Interim Director and Chief Executive responded to a number of comments from Members. With regard to the benchmarking of public health grants with comparator authorities, the Chief Executive agreed to ask the Director of Public Health to provide a written response on this.
Members spoke of the opportunities to transform services over the lifetime of this MTFS and the need for all political groups on the Council to work together for the benefit of Wirral’s residents.
On a motion by the Chair, seconded by Councillor Yvonne Nolan, it was -
Resolved - That the Medium Term Financial Strategy for 2022/23 to 2026/27, be approved.