Financial plans
MEDIUM TERM FINANCIAL PLAN 2009/10 - 2011/12
This is the City Council's Medium Term Financial Plan (MTFP). It's purpose is to demonstrate how the council's financial resources will be deployed over the next three years to deliver declared Aims & Priorities. The Plan sets out the overall shape of the Council's budget by determining the level of resources that will be available to the Council and sets out how these currently are allocated between services. This provides a medium term framework to enable members and officers to develop detailed annual budget allocations.
The MTFP is supported by the following key strategies and plans:
- Appendix 1 - Capital Strategy
- Appendix 2 - Asset Management Plan
- Appendix 3 - Capital Programme
- Appendix 4 - Treasury Management Strategy
Together they set out the projected revenue and capital plans and asset management plan to support the council's Aims & Priorities, recognising the announcements made by Government regarding the future funding of the Council.
The continuing delivery of this strategy will be dependant not only on the resources made available through Government settlements, but also on the success of the Council in realigning resources to its aims and priorities.
Reports:
- Medium Term Financial Plan 2009/10 - 2011/12 (CT/04/09)
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- CT/04/09 - Annexe A (Corporate Services and Financial Plan Cycle)
- CT/04/09 - Annexe B (Budget Framework)
- CT/04/09 - Annexe C (Financial Summary Model)
- CT/04/09 - Annexe D (Value for Money Service Reviews)
- CT/04/09 - Annexe E (Government Grants)
- CT/04/09 - Annexe F (Reserves)
- CT/04/09 - Annexe G (MTFP Principle Risks)
- CT/04/09 - Appendix 1 (Capital Strategy - CT/07/09)
- CT/04/09 - Appendix 2 (Corporate Asset Management Plan)
- Appendix 2a Corporate AMP
- Appendix 2b Corporate AMP
- Appendix 2c Corporate AMP
- CT/04/09 - Appendix 3 (Capital Programme - CT/08/09)
- CT/04/09 - Appendix 4 (Treasury Management Strategy - CT/09/09)
However, since the MTFP was reported and approved, the impact of the recession has produced a period of challenging economic circumstances. The City Council has established an Economic Review Group (ERG) which provides an overview of the impact of the recession upon the council.
The ERG reports quarterly and also produces monthly updates to accompany the Economic Briefing report.
FINANCIAL REVIEWS - 2009/10
Every three months the Council undertakes a formal review of its financial position - called the Financial Review. These reviews summarise the Council's forecast financial position for the year and identify key trends in spending and income, areas of financial risk and the ongoing financial effects into the forecast for future financial years.
The unaudited Statement of Accounts for the year 1 April 2008 to 31 March 2009 were approved by the Audit and Accounts Committee on 25 June 2009.