Issue - meetings

To receive a presentation from the Chief Finance Officer and the Portfolio Holder for Finance on the Budget Issues for 2017-18 and beyond.

The Chief Finance Officer, supported by the Portfolio Holder for Finance, Councillor Howard Williams, gave a presentation (attached to these minutes) outlining the context of the budget for 2017/18 and the challenges of delivering a sustainable financial future due to both the known demands and pressures on the budget and those that were difficult to forecast.

The presentation covered the following issues:

Context for Budget 2017/18:

·         Funding update - 4 year Revenue Support Grant settlement from government; the reduction in which was the key underlying driver for the Council’s Towards a Sustainable Future programme.

·         New Homes Bonus funding reductions

·         Business rates

·         Pressures and risk including staffing, assets, housing, recycling,

·         Impact upon of us of Surrey County Council’s financial position

·         Impact of BP deal - updated projections

·         Continuing strong treasury management performance

Ongoing Strategies to address future challenges

·         Commercial asset investment strategy

·         Housing strategies

·         Balanced Budget 2017-18

·         Investment in staff, assets and housing

The Chief Finance Officer and Cllr Williams answered members’ questions.

Resolved to note the budget issues presentation for 2017/18 to 2018/19.