The council has prepared an Efficiency Plan in response to the Government's offer of multi-year financial settlements to cover the period 2016/17 to 2020/21 .
Traditionally, only one-year settlements were announced by Government. However, so councils can make effective long-term financial plans, a proposal to publish multi-year settlements was announced. In order to secure the settlement, local authorities are required to prepare and approve an efficiency plan that covers this extended period. At the meeting of Cabinet on 10 October 2016, the Efficiency Plan for Stratford-on-Avon District Council was approved.
The Efficiency Plan for the council pulls together the current approach of the council in managing its finances. The major sections of the plan include:
While the council is supportive of the principle of certainty surrounding future years' funding, the level of support from central government is forecast to reduce significantly as illustrated in the table below:
|Year||Revenue Support Grant||Rural Services Delivery Grant||Transition Grant||Total||Change Increase / (Decrease)||%|
The council has included this level of support within the Medium Term Financial Plan. At the meeting of Cabinet it was made clear that in accepting the multi-year settlement at this stage, should the government review its level of support and not reduce the funding as significantly as shown above, then there should be no detriment to the council.
For further information, please contact Financial Services: