The Medium-Term Financial Plan (MTFP) for the period 2021/22 to 2025/26 would be the latest projection of the Council’s financial position over the next five-year period ahead of confirmation of Government funding and other factors that would affect its finances.  A report was originally scheduled to be presented at this meeting however, it had been deferred, in agreement with the Cabinet Portfolio Holder for Finance and Performance Management, due to the impact on the Council’s financial position as a result of the COVID-19 pandemic. 

By mid-October officers would have a clearer picture of the costs involved and would be in a better position to assess the impact of the pandemic not just on the current financial year but also on the MTFP. This would also provide an opportunity to produce a more robust MTFP for Members to consider and debate.

The deferral of the MTFP report to the 2 November 2020 Cabinet meeting would allow officers to present to Members a better-informed position of the Council’s five-year financial position and better place them to make informed budget decisions.

RESOLVED: That the report be noted.