The Medium Term Financial Strategy (MTFS) is produced before the revenue budget is compiled. It is an assessment of the additional amounts which will need to be included in future years’ revenue budgets to take account of factors such as pay and price increases, approved commitments (for example new services to be provided), changes in income levels (for example in relation to government grants) and any other known changes. It covers a five-year period. Following approval by elected members, the assumptions contained in the MTFS are incorporated in the revenue budget.
Last updated 2 June 2017