Decision details

Medium Term Financial Strategy (Revenue and Capital)

Decision Maker: Cabinet

Decision status: Recommendations Approved

Is Key decision?: Yes

Is subject to call in?: No


To note the progress on the development of the Medium Term Financial Strategy


The Cabinet recommend that Council approve:

1.1.   The 2022/23 Revenue Budget, including the Amount to be met from Government Grants and Local Taxpayers of £12,551,000, the District Council Tax Requirement of £7,456,000 and a proposed level of Council Tax (the District Council element) for 2022/23 of £187.85 (an increase of £2.78 or 1.50%) for a Band D equivalent property.

1.2.   The MTFS 2021-26 Revenue Budgets and 25 year Revenue Budget model set out in APPENDIX A.

1.3.   The Corporate Fees and Charges Policy at APPENDIX B.

1.4.   The MTFS 2021-26 Capital Strategy including the 25 year capital investment model and the Capital Programme shown in APPENDICES C & D.

1.5.   The Minimum Revenue Provision Statement for 2022/23, at APPENDIX E, which sets out the Council’s policy of using the asset life method for making prudent provision for debt redemption.

1.6.   Treasury Management Strategy Statement for 2022/23 including proposed limits shown at APPENDIX F. The only change being proposed is to increase the limits and indicators to enable an increase in Strategic Pooled Fund investments from £10m to £15m.

1.7.   The Investment Strategy Report (APPENDIX G) including the proposed limits for 2022/23.

1.8.   The Capital and Treasury Prudential Indicators for 2021-26 in the financial implications section.

1.9.   The Authorised Limit Prudential Indicator shown within the financial implications section.

1.10.                     The CFO’s report on the robustness of the Budget and adequacy of Reserves shown in APPENDIX H in compliance with the requirements and duties of the Local Government Act 2003.

That Cabinet:

1.11  Delegated responsibility to the Cabinet Member for Finance, Procurement and Revenues & Benefits and the Head of Finance and Procurement to repay any external loans where there is an economic benefit to the Council and this can be achieved through the use of existing approved budgets.


Report author: Anthony Thomas

Publication date: 09/02/2022

Date of decision: 08/02/2022

Decided at meeting: 08/02/2022 - Cabinet

Accompanying Documents: