Agenda item

Report to the Chamberlain.

(TO FOLLOW)

The Committee considered a report of the Chamberlain, covering the 2019/20 Budget and financial outlook for City’s Cash and Bridge House Estates.

RESOLVED, that:

·         The latest revenue budgets for 2018/19 be noted;

·         The 2019/20 revenue budgets be agreed, including the following measures:

o   Efficiency Savings: Maintain the 2% efficiency saving across all Corporation departments, which together with the pay and inflation uplift of 2% would result in flat cash budgets.

o   Additional resource requests: to establish an in-year provision pending further consideration by the Resource Allocation Sub Committee.

·         The additional measures relating to the Medium Term Corporate Plan Alignment and Financial Sustainability be approved:

o   Revenue: Establish a fundamental review of priorities to align resources to the Corporate Plan and deliver a sustainable medium-term financial plan and receive a report on the framework and timing in March.

o   Capital: cash limits for the major projects and explore options for further streamlining, joint ventures/private sector capital, a process for prioritising other capital projects, and the disposal of non-income earning surplus operational property as identified from the operational property review and approved by the Policy and Resources Committee.

·         That this report be endorsed for onward approval to the Court of Common Council.