The Township Committee considered the report of the Director of Resources which provided details of the budget guidelines and timetable to be used in preparing the detailed 2017/18 budget and provisional budgets for 2018/19 and 2019/20.
The Council is legally obliged to set a balanced budget. The budget setting process is complex and must be undertaken in a planned way. It is equally important that assumptions used in the preparation of the budget are agreed, reasonable and consistently applied by all services.
The budget forecast had been based on a number of assumptions, known levels of expenditure and anticipated levels of resources. Final confirmation of these assumptions will not be received and finalised until November or December 2016. There were a number of areas of the Council’s budget where risks to the projections contained within the report have been identified.
DECIDED – that the budget 2017/18 to 2019/20 guidelines and timetable be noted.
Eligible for call-in - no