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.
- nationally, what issues are affecting all local authority finances
- locally, the best approach to managing our accounts and funds
We review, update and approve our MTFS together with our Capital Strategy as part of our budget process before each new financial year (1 April to 31 March).
Medium Term Financial Strategy 2021/22
Cabinet agreed a draft budget at their meeting on 13 January 2021 and referred their proposals to Corporate Overview and Scrutiny Committee on 21 January 2021.
On 10 February 2021, Cabinet considered an update report on the draft General Fund budget and Medium Term Financial Strategy. This included Corporate Overview and Scrutiny Committee comments and an analysis of support provided by the government's Spending Review 2020.
At the time of this report, a series of one-off actions to make savings had reduced the pressure on finances within 2021/22. Whilst savings were also planned for 2022/23 and 2023/24, underlying pressures would be carried forward into these years and more savings would need to be found.
Documents can be downloaded from:
- Cabinet, 13 January 2021, item 86 – Draft General Fund Budget and Medium Term Financial Strategy Update
- Corporate Overview and Scrutiny, 21 January 2021, item 28 – Draft General Fund Budget and Medium Term Financial Strategy Update
- Cabinet, 10 February 2021, item 101 – Draft General Fund Budget and Medium Term Financial Strategy Update