Agenda item

To receive and consider the joint report of the Town Clerk/CEO and Responsible Financial Officer (RFO).

The Committee received and considered the confidential joint report of the Town Clerk/C.E.O and the R.F.O concerning a medium-term financial strategy (MTFS).

The Town Clerk advised the strategy would provide a robust three-year financial framework and would align with the Council’s developing corporate strategic plan; this was a draft document which was currently in progress.

The Chair thanked officers for their work on the strategy, which would re-introduce a written plan for the Council as a model framework. This as well as the first version, provided at the last meeting was setting the parameters for the Council to work towards.

Resolved:

1.      That, the confidential report be noted and,

2.      That, the principle of adopting a medium-term financial strategy to support the Council’s financial planning and management be endorsed and,

3.      That, the updated MTFS as presented, providing an updated financial projection based on current assumptions be noted and,

4.      That, the R.F.O continues to refine the MTFS to ensure it was fully aligned with the Council’s emerging Corporate Strategic Plan and can support informed budgeting and decision-making over the medium term.