Agenda item

Report E/19/12 presents an update to the Medium Term Financial Strategy (MTFS) covering both the General Fund and Housing Revenue Account (HRA) prior to consideration by Council on 17^th September 2019.

The Leader of the Council in the absence of the Lead Executive Member for Finance and Resources presented an update to the Medium Term Financial Strategy (MTFS) covering both the General Fund and Housing Revenue Account (HRA) prior to consideration by Council on 17^th September 2019.

The Leader of the Council explained that the MTFS would be going before the Policy Review Committee and then onto Full Council. The Executive was informed that the Government had announced that there would be a one year settlement for 2020/21 and that it had been suggested that the referendum threshold for increasing council tax would revert back to 2%.

The Leader of the Council outlined that the Council was in a healthier financial position in comparison to other authorities due to the work that had been done in recent years.

The Executive was informed that the Business Rates Pool Board had awarded the Council funding for the Tour de Yorkshire and the UCI World Championships cycle events.

RESOLVED:

To submit the Medium Term Financial Strategy to Council for approval.

REASON FOR DECISION:

To set the framework for the 2020/21 budget and Medium Term Financial Plan to 2022/23.