Current budget 2018 to 2019
Medium Term Financial Plan (MTFP) is reviewed and refreshed on an annual basis. Assumptions made when setting the previous MTFP are reviewed and updated where necessary. New information on funding and service delivery is assessed and factored into the MTFP.
The MTFP covers both 2018 to 2019 and 2020 to 2022, and forms part of the council's corporate planning process. It gives a financial expression to the council's plans over the next four years and will enable the council to effectively plan for the financial pressures it faces and to ensure consistency in service delivery to its customers.
The council needs a high level funded plan for its priority outcomes and core purpose which balances the available financing with its spending needs. It includes the financial strategy, financial assumptions and inherent financial risks, but more importantly it links decisions on resource allocations to policy decisions on priorities.
In the challenging economic environment and reduced levels of government funding delivering stability is an essential part of setting the council's budget. This is done by ensuring that changes from year to year in resources available and the financing implications of those changes are, as far as possible, predicted and managed. The council needs to ensure it is making the best use of all resources, delivering efficiencies where possible and optimising the financial resources available to the council over the life of the MTFP.
The Medium Term Financial Plan was approved by full council on 28 February 2018 and the related documents can be viewed below:
2017 to 2018 Budget Books
Previous budget books
Medium Term Capital Programme
Capital expenditure forms a large part of the council's spending on the provision of services. The Medium Term Capital Programme captures these spending plans and additionally outlines how spend is funded.