Issue - decisions
Financial Planning
13/09/2016 - Financial Position 2017/18 - 2019/20 and option to fix RSG settlements
RESOLVED:-
(i) Cabinet noted the overall financial position and the risks inherent in it.
(ii) Cabinet noted the overall arguments for and against accepting a fixed settlement of its RSG until 2019/20, and that on balance the advice is in favour of accepting it.
(iii) Cabinet delegated to the Chief Executive and Leader authority to decide whether or not to accept the fixed RSG settlement.
(iv) Cabinet delegated to the Chief Executive and Leader authority to submit an efficiency plan to DCLG as part of any decision to accept a fixed RSG settlement.
(v) Cabinet noted the position in particular in respect of business rates devolution and how this might progress, and that the chief finance officer will continue to respond to technical consultations as necessary.
(vi) Cabinet noted the progress in developing a financing programme for the investment strategy.
(vii) Cabinet agreed to delegate procurement and appointment of specialist financial advisers to assist in the financing of the investment strategy to the Chief Finance Officer, in consultation with the Deputy Leader.