Medium Term Financial Strategy
We review, update and approve our financial strategies as part of our budget process before each new financial year (1 April to 31 March). These are agreed at a meeting of Council, normally in February.
Financial strategies
The Medium Term Financial Strategy (MTFS) looks at how much money we expect to spend and how much we expect to collect as income over the next 3 years.
It considers:
- nationally, what issues are affecting all local authority finances
- locally, the best approach to managing our accounts and funds
Our Capital Strategy sets our approach to spending money on assets such as land and buildings that will be used for more than 1 year.
This is called 'capital expenditure'.
Our Treasury Management Strategy looks at how we manage our money and any financial risks. Its priority is to make sure we have the money we need to manage our day-to-day business. It also helps with the development of our longer-term financial strategies.