The Medium Term Financial Strategy (MTFS) is the Council’s key financial planning document. It considers and encompasses the financial implications of the priorities and actions in the Priorities document and is thus an integral part of the Corporate Business Planning process and is updated at least annually.
The MTFS ensures we have a clear policy framework to enable us to allocate funds in accordance with our priorities as we go through the budget setting and service planning stages of the process.
The MTFS includes a forward look over the next few years to anticipate the spending pressures we will face and the level of savings that will need to be made to keep Council Tax increases to acceptable levels.
The contents of this strategy are our response to the significant financial and service challenges that we face and the need to plan ahead for the future with far fewer resources. However, it is not simply about saving money, it is also about all the things we need to do to make us financially and organisationally stable so that we can continue to deliver our Corporate Objectives and thrive as a resilient council.