Consideration was given to the progress report on the Financial Stability Programme (FSP) adopted by the Council in March 2021 under the direction of the FSP Board.  The programme set out how the Council might achieve the savings and income targets in the Council’s Medium Term Financial Plan (MTFP) and ultimately deliver on the ambition to achieve financial stability as set out in the Corporate Plan.

Since April 2021, Heads of Service had been developing ideas in line with the key themes of invest to save, income generation and service prioritisation. This work had identified a significant number of suggestions which had been reported to the Financial Stability Programme Board on the 16 September 2021 and were being worked up into detailed proposals, as detailed in the report. Members were appreciative of the creativity that had been shown and the ideas that had come forward from the various departments. 

It was noted that a number of small proposals could be commenced immediately which was expected to deliver some savings in the current financial year, however it was likely that the majority of proposals and savings would start to be delivered from 2022/23 onwards.  An updated timetable was shown at Appendix A to the report. 

Proposals centred on service prioritisation would be considered in conjunction with phase two of the Council staffing restructure and those reliant on devolution to parish and town councils were very much in their embryonic stage.  An increase in the staffing capacity of the Council would be required in order to deliver the proposals and this could be accommodated within the £750,000 earmarked reserve approved by Council.  An initial appointment would be made shortly for an officer to focus on the income generation proposals and support the discussions with parish and town councils.

RESOLVED: That the report be noted.