Issue - meetings

The Financial Sustainability Strategy is adopted and used as the key methodology for delivering the Medium Term Financial Plan 2020 onwards;

The Financial Sustainability Group is embedded as a Financial Sustainability Board and holds delegated powers to invest in projects that meet the Financial Sustainability Strategy criteria;

The action plan detailed in table 2 to be delivered through the Medium Term Financial planning process; and

A Capital sum is made available to the Financial Sustainability Board of £3m to invest in commercial income generating activity that achieves the Financial Sustainability Strategy key requirements.

The Executive Member for Finance and Support Services submitted a report that proposed a Financial Sustainability Strategy to be adopted for the use of both Officers and Members in the delivery of East Herts Medium Term Financial Plan for 2020 onwards.  The proposed strategy had been a “work in progress” for the last year for the Financial Sustainability Group and had  emerged from all the discussions and proposals considered within that group.

The Head of Strategic Finance and Property referred to the “have your say” sessions that had fed into the recommendations for Council.  She stated that the report had been sanctioned by the Overview and Scrutiny Committee.  The Leader thanked the Head of Strategic Finance and Property for the report.

Councillor G Williamson proposed and Councillor E Buckmaster seconded, a motion to support the recommendations now detailed.  After being put to the meeting, and a vote taken, the motion was declared CARRIED.

The Executive supported the proposals, as now detailed.

RESOLVED – that (A) the Financial Sustainability Strategy be adopted and used as the key methodology for delivering the Medium Term Financial Plan 2020 onwards;

(B)   the Financial Sustainability Group be  embedded as a Financial Sustainability Board and holds delegated powers to invest in projects that meet the Financial Sustainability Strategy criteria;

(C)   the action plan detailed in table 2 be delivered through the Medium Term Financial planning process; and

(D)   a capital sum be made available to the Financial Sustainability Board of £3m to invest in commercial income generating activity that achieves the Financial Sustainability Strategy key requirements.