Decision details

Cabinet considered a report on the Outline Budget for 2020/21 to 2023/24 which outlined the current expected budget gaps for 2020/21 and the following three years.

The Chief Finance Officer advised Cabinet that there would be an impact on the detailed budget arising from the Pension fund review which requires a significant increase to employer contributions. This had not previously been flagged as anticipated by the actuaries or pension fund administrators when the Outline Budget was considered and the reasons for the proposed increase and options for managing impact on the Budget were being explored with actuaries.

Cabinet asked to receive a further report at its next meeting giving more information on the impact to the budget as a result of the Pension fund review.

Resolved to receive a further report on the Outline Budget for 2020/21 to 2023/24 addressing the impact arising from the Pension fund review, at the next meeting of Cabinet on 29 January 2020.

Reason for Decision

Cabinet needs to fully understand the implications for the Outline Budget as a result of the Pension fund review before it can agree the recommendations in the report.