Issue - meetings

To receive a presentation from the Chief Finance Officer on the Budget issues for the period 2018/19 to 2019/20.

The Committee received a presentation from the Chief Finance Officer outlining the context of the budget for 2018/19 and the Council’s medium term financial strategy. He detailed:

·         Impacts from the Autumn Budget statement

·         Projected Budget gaps for each financial year from 2018 to 2022 and the factors driving those gaps

·         The effect of funding reductions

·         Impact of Surrey County Council financial position

·         2018-19 Business rates pilot 

·         Update on additional commercial income and external risks

·         Commercial asset acquisitions

·         Housing delivery

The Portfolio Holder for Finance, Councillor H.R. Williams responded to members’ questions about the Council’s risk management strategy in respect of some of its property acquisitions.

The Committee congratulated the Leader, Cabinet and Chief Executive on the positive results achieved from the Council’s asset acquisition strategy.

The Committee agreed to include an item at a future meeting on reviewing the Council’s approach to risk management with respect to property acquisitions.

Resolved to:

1.    note the presentation on the Budget issues for 2018/19 to 2019/20;

2.    congratulate the Leader, Cabinet and Chief Executive on the positive results achieved from the Council’s asset acquisition strategy and

3.    include an item at a future meeting on reviewing the Council’s approach to risk management with respect to property acquisitions