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Poole Council Budget Overview Meeting 2014/15: Austerity Impact & Future Plans

Explore the impact of austerity on Poole's budget setting for 2014/15. Learn the key financial challenges, strategies, and future plans discussed in the council meeting. Discover the insights shared by Cllr Elaine Atkinson, Leader of the Council, regarding budget processes, national and local contexts, and the Medium Term Financial Plan (MTFP) for 2014-2018. Dive into the details of the Peer Review findings, the need for efficiency, and the evolving budget management practices. Explore the significance of the Cross-Party Budget Steering Group and the focus on Value For Money (VFM) initiatives. Stay informed about the budget decisions, resource allocation, and support towards economic growth and job creation in Poole. For further inquiries, contact Elaine Atkinson at elaine.atkinson@poole.gov.uk.

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Poole Council Budget Overview Meeting 2014/15: Austerity Impact & Future Plans

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  1. Poole Council MEETING WITH REPRESENTATIVES OF RESIDENTS’ ASSOCIATIONS AND COMMERCE & INDUSTRY Budget & Council Tax Setting 2014/15 Cllr Elaine Atkinson Leader of the Council

  2. Agenda • Background – A new budget process • Background – Peer Review • National Context – Why Austerity Needed • National Context – 2015 Spending Review • Local Context – Where the money comes from • Local Context – Impact of Austerity on Poole • Local Context – Where the money goes • MTFP 2014 to 2018 (Part 1) • MTFP 2014 to 2018 (Part 2) • Next Steps

  3. Background - New Budget Process • Budget process changed for 2014/15 onwards to reflect; • No Overall Control • Overview & Scrutiny of MTFP not adding enough value • Changes • Cross Party Budget Steering Group established • Efficiency & Effectiveness O&SC responsible for overall scrutiny of the budget • Other Overview & Scrutiny Committees • Consider significant changes in policy or service levels (E&E OSC considered Business Case to deliver revenue & benefit services in partnership with 3 other authorities)

  4. Background - LGA Peer Review • Bill Roots previous CX & Director Finance at Westminster City Council undertook Financial health check, conclusions; • Poole has managed to avoid full impact squeeze so far • Careful financial planning, effective management, prudent resource assumptions, use reserves. • Options are running out • Decisions will become more contentious • Financial gap is enormous particularly authority Poole’s size • We need to develop outline options to bridge gap • Suggests Budget Steering Group takes more responsibility • “Star Chamber“ clearing house for difficult decisions that lay ahead • Emphasised that Council can by local decision (to a limited extent)change its resource base associated with Council Tax, the chances of changing the national grant allocation is remote in the extreme

  5. National Context – Why Austerity Needed National Debt at the end of 2012 = £1,390,000,000,000

  6. National Context – Spending Review 2015

  7. Local Context – Where the money comes from

  8. Local Context – Impact of Austerity on Poole55% Cumulative annual reduction in core Government funding since 2010

  9. Local Context – Impact of Austerity on Poole - Savings made by the Council since 2010/11

  10. Local Context – Where the money goesMajority of resources spent on minority residents (vulnerable Adults & Children)

  11. Medium Term Financial Plan 2014 to 2018 (part 1)

  12. Medium Term Financial Plan 2014 to 2018 (Part 2)

  13. Next Steps • Continue Cross Party Budget Steering Group (Star Chamber) through January/February and beyond with particular emphasis on developing plans for 2015 onwards.. • Relentless pursuit of Value For Money (VFM) • Even greater levels of efficiency & productivity • Bring forward detailed proposals on financial and non financial implications of a number of options that the Cross Party Budget Steering Group requested be further explored. • Prioritised support towards economic growth and job creation Aim remains to improve quality of life whilst protecting the most vulnerable

  14. Questions…? Elaine Atkinson e-mail: elaine.atkinson@poole.gov.uk

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