Our Strategic Plan 2022–2027 sets out our priorities and ambitions for the next five years. It is therefore important that financial resources follow these priorities and that finances and priorities are aligned.
Our Medium Term Financial Strategy 2022–2027 will set out the financial resources that are available to deliver on the Council’s priorities and the necessary mechanisms that are required to be put in place to mitigate against future financial challenges that may adversely impact on the achievement of our priorities.
It will enable us to consider and plan for financial issues over the longer term by providing advanced notice of pressures arising from grant funding variations; service demand changes; UK and Scottish Government policy intentions and population and demographic changes.
Main objectives
The main objectives of our Strategy are therefore to ensure that:
- resources are allocated and deployed to facilitate delivery of the outcomes set out in the Strategic Plan
- elected members are able to take full account of the impact of decisions on the overall financial resources of the Council in the short, medium and long term
- we have flexibility to address new policy requirements, or significant changes to existing policies, within overall available financial resources
- we have a comprehensive, coherent balanced budget for both General Services and the Housing Revenue Account (HRA)
- there is a clear strategic financial planning linkage between Council decisions on capital planning and the revenue budgets for both the General Fund and the HRA
- all key strategic decisions on the allocation and deployment of resources are made within the appropriate financial context, with due regard to levels of risk and reward
- capital investment expenditure must be prudent, affordable and sustainable, as defined by the Prudential Code and meet a statutory need or deliver long term revenue savings
- priority is given to projects that link to our Strategic Plan priorities, help build resilience and will deliver the greatest return for our residents, communities and for the Council with a business case used to document this analysis
- resources are invested effectively, efficiently and on a sustainable basis
- every opportunity is taken to maximise external funding wherever possible
- there is an ongoing focus on securing efficiencies across the Council and closing our budget gaps
- there is a genuine understanding in the wider community of the challenges and risks that impact on the Council’s finances
- financial management and governance remain strong and that relevant regulatory and audit requirements are met
Comments and suggestions
Get in touch if you have any comments or suggestions on the Council Strategic Framework and its strategies:
Comments and suggestions