The subject of the decision:

This report sought approval for a revised Financial Strategy 2014/15 to 2023/24, the report also sought approval to fund the costs associated from the corporate restructure from the One-Off Fund and the establishment of a £5,000,000 Economic Development Reserve.  The detailed Financial Strategy in Annex ‘A’ of the report demonstrated the affordability of both of these recommendations.

Alternative options considered:

None.

The reason for the decision:

To ensure there is a long term financial planning mechanism for the Council.

THE DECISION:

That Cabinet approves and recommends to Council:-

(1)     the revised Financial Strategy 2014/15 to 2023/24;

(2)     the funding of costs associated with the Corporate Restructure from the One-off Fund, with the allocation of an additional £389,200; and

(3)     the establishment of a £5,000,000 Economic Development Fund.