Budget Reports

MTFP – and Long Term Financial Strategy

Every four years the Council produces a new Medium-Term Financial Plan (MTFP). The current report accompanies this with a 10-year Long-Term Financial Strategy (LTFS), intended to address the financial environment in which the Council is operating. These provide the principles, assumptions, and factors adopted in order to formulate the Council’s budget for each year.

MTFP Update

An update is published every year within the Medium Term Financial Plan (MTFP) period, and includes budget projections for the next year and the following two years, even if beyond the term of the current MTFP.

The report covers the updated key assumptions used to prepare and update the MTFP, including estimates of Council Tax and Business Rates income, government support, and likely expenditure needs, that will be used to prepare the detailed budget for the upcoming financial year.

The report includes updates on long-term savings plans and projects, and the impact of those savings on future budgets.

The Business and Budget Book

This annual document is the most detailed of the budget reports, and aims to inform residents, customers, Members and other interested parties how Mole Valley District Council will use its resources to deliver the priorities set out in our Council Strategy, for the next financial year.

MVDC’s approach is to ensure that our business and budget planning processes are fully integrated and that resources are allocated in line with corporate priorities.

Capital, Investment and Treasury Management Strategy

This strategy document is updated annually in advance of the forthcoming financial year. It gives an overview of how capital expenditure, capital financing and treasury management activity contribute to the provision of local public services.

The Strategy includes an update on the existing capital expenditure programme and any new capital expenditure bids submitted for approval, the amount of external borrowing required to fund this expenditure (if any), and also details how associated risks are managed and the implications for future sustainability. It sets out the limits and targets, by way of Prudential Indicators, the Council will adhere to over the forthcoming year, to ensure spending, borrowing, and investment remain prudent and sustainable.