The budget in comparison to last year has less Covid support and a more positive outlook with regards to levels of income. The Council’s healthy level of reserves will help mitigate against such risks. Along with anticipated Environmental and Planning legislation changes, these are risks that could quite easily de-stabilise a relatively positive medium term financial position for Rushcliffe. We hope for multi-year financial settlements which will give greater financial certainty. The Council looks forward to understanding the impact of future Business Rates, New Homes Bonus and Fairer Funding Reviews. For 2022/23 we received another one-year settlement. Uncertainty still remains for the longer term (not just as a result of Covid). Thus, ensuring the Council continues to deliver its Corporate Strategy objectives. The Council’s Medium Term Financial Strategy (MTFS) firstly seeks to ensure that the Council remains financially resilient and able to deliver the services it must by law secondly to initiate the process of redressing the imbalances created by the Covid-19 pandemic, by appropriately focussing on economic recovery and growth and prosperity within the Borough and supporting the most vulnerable in our community thirdly to ensure that health and wellbeing remains a high priority and finally to remain committed to carbon reduction and supporting the environment. Many of those challenges still remain as we move into 2022/23 and beyond although we remain optimistic that the pandemic is coming to an end. Last year we thought we were facing unprecedented financial challenges as a result of Covid. Introduction and Executive Summary 1.1 Introduction
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