Issue - meetings

That:

1)        the Chief Finance Officer’s (CFO) report and the issues contained within, including the local government finance settlement and the sections on key risks be noted and considered when setting the Council Tax for 2018/19 and agreeing the Council’s Medium Term Financial Plan (MTFP);

2)      the Council’s response to the draft local government finance settlement, as set out in Appendix 2 to the report, be supported.

The Executive considered the Chief Finance Officer’s Report which was reported to Members each year as part of the Budget setting process.

The Executive Member for Finance introduced the report and summarised the implications of the local government finance settlement on the Council. Wokingham remained the lowest funded unitary authority in England and changes to Government funding through the Revenue Support Grant meant that by 2019/20 the Council would move to a negative grant of £7.1m.

The report highlighted some of the significant financial risks facing the Council, including potential increases in client care costs, forward funding of the Council’s investment priorities and the Government’s Business Rate Retention Scheme.

Finally, the report sought endorsement of the Council’s response to the draft local government finance settlement consultation exercise.

In response to a question from Councillor Lee, Councillor McGhee-Sumner confirmed that extensive lobbying was continuing in order to highlight the unfairness of the Council’s financial settlement. This included discussions with the Prime Minister and leading Ministers.  Councillor Haitham Taylor urged all Members to lobby their respective MPs and parties on this issue.

RESOLVED That:

1)           the Chief Finance Officer’s (CFO) report and the issues contained within, including the local government finance settlement and the sections on key risks be noted and considered when setting the Council Tax for 2018/19 and agreeing the Council’s Medium Term Financial Plan (MTFP);

2)        the Council’s response to the draft local government finance settlement, as set out in Appendix 2 of the report, be supported.