Content

Decision
 
RESOLVED that
Cabinet:
 
- considered the draft
Financial Strategy 2025, attached as Appendix A, and recommends
this strategy to the Policy Review Committee for review and
comment.
- noted the proposed
timetable for adoption of the Financial Strategy 2025
- noted that appendices 2
(Medium Term Financial Plan) and 3 (Capital Strategy) to the draft
Financial Strategy 2025 will continue to be reviewed, updated and
approved annually as part of the revenue and capital budget setting
process.  
 
Reasons for
decision
 
The Financial Strategy is an integral part of
and critical to the Council’s Corporate Governance and
Performance Framework, delivery of the Community Strategy and
Corporate Plan and the majority of the Council’s policies and
strategies.
The Strategy should be reviewed periodically
and updated as required to assist the Chief Finance Officer in
planning the Council’s financial resources in the short to
medium term (3 to 5 years) with a view to delivery of the
Council’s service priorities. It also sets out the framework
and principle on which the Council plans and manages its finances.
As such it forms an integral part of the Council’s Budget and
Policy framework.
 
Alternative Options
Considered
 
The Financial Strategy considers various
pressures, risks, uncertainties and influences that impact on the
Council’s finances and considers various options for the
Council to manage them.