Medium term financial plan
The Council produces a Medium Term Financial Plan annually which looks at the Council's expected income and expenditure for a rolling 5-year period.
The Plan looks at how the Council will ensure it has sufficient financial resources to deliver the Council Plan and includes the Council’s Financial Strategy, Capital Strategy, Reserves Strategy and Financial Risk Register.
The latest Medium Term Financial Plan can be viewed here:
As part of the Government’s funding settlement for Councils for 2016/17, it offered a multi-year funding package for certain grants should councils choose to accept the offer and if they have published an efficiency plan.
South Lakeland District Council wish to accept the offer and their Efficiency Plan is published here:
The four-year settlement is important to the medium term financial stability of the Council although it only relates to certain elements of funding: Revenue Support Grant, Transitional Grant and Rural Services Delivery Grant. It supports the Medium Term Financial Plan approved by Council in July 2016.
Through sound financial planning the Council is on track to balance the Council’s budget for 2017/18 and have processes and projects in place to identify savings required to balance budgets to 2019/20.