Agenda item - 4 Year Funding Settlement and Efficiency Plan

Extract from the proceedings of the Policy, Resources & Growth Committee meeting held on the 13^th October 2016, (to be circulated), together with a report of the Executive Director for Finance & Resources (copy attached).

36.1      Councillor Hamilton introduced the report which detailed the option for the Council to take up a 4-year funding settlement for 2016/17 to 2019/20, as part of the Government’s Spending Review.  The benefit of taking up the option was that it provided the council with a guaranteed minimum figure for each financial year based on the efficiency plan that it submitted to the Government.  He noted that it had been accepted at the Policy Resources & Growth Committee at its meeting on the 13^th October and recommended it to the council.

36.2      Councillor Sykes stated that he could not accept the idea of having to produce an efficiency plan or signing up to a 4-year settlement and believed that local authorities should challenge the government and defend public services.

36.3      Councillor Wealls welcomed the report and supported the plan, which he felt gave the council a degree of flexibility in regard to the use of capital receipts.  He noted that all councillors were mindful of the challenges ahead and difficult questions that had to be faced.

36.4      Councillor Hamilton noted the comments and stated that most authorities had taken this option as a way forward and would continue to use official channels such as the LGA to put pressure on the Government.

36.5      The Mayor noted that the recommendation from the Policy, Resources & Growth Committee to agree to submit the Efficiency Plan had been moved and put it to the vote which was carried.

36.6      RESOLVED: That the Efficiency Plan as detailed in appendix 1 to the report be agreed and submitted to satisfy the conditions of acceptance for the government’s 4-year funding settlement for the period 2016/17 to 2019/20.