Agenda item

To consider a report which asks Council to approve the Medium Term Financial Strategy.

Councillor Lunn, Lead Executive Member for Finance and Resources presented the report which asked Members to approve the Council’s Medium Term Financial Strategy.

Councillor Lunn explained that report presented an update to the Medium Term Financial Strategy (MTFS) covering both the General Fund and Housing Revenue Account (HRA).

The MTFS had been considered by the Executive and the Policy Review Committee, the latter of which who had made no further comments on the MTFS.

Councillor Lunn explained that there was uncertainty over a number of funding streams that were important to the Council, such as the New Homes Bonus, the government’s revenue support grant and business rates retention.

Members asked a number of questions and expressed concerns on various issues such as the precariousness of government funding and the local government finance settlement.

Councillor Lunn confirmed that recent car park improvements at the New Lane car park in Selby had been carried out by the Council.

It was proposed and seconded that the MTFS be approved by the Council. The motion to approve the MTFS was put to the vote and carried.

RESOLVED:

                        To approve the Medium Term Financial Strategy.

REASON FOR DECISION:

To set the framework for the 2019/20 budget and Medium Term Financial Plan to 2021/22.