Draft Medium Term Financial Plan 2014/15 to 2017/18

The Medium Term Financial Plan (MTFP) is Cambridgeshire’s Police and Crime Commissioner’s key financial planning document.

The MTFP identifies:-

•  the revenue budget requirement for the next financial year and the forecasts for the following three years,
• how the budget requirement is financed,
• how difficult budget settlements in the next few years will be addressed whilst still protecting the number of officers, especially neighbourhood policing, and
• future funding changes and risks.

The draft Medium Term Financial Plan (MTFP) was discussed at the BCB. It is very important to note that this was a draft plan based upon a forecast reduction in the government grant settlement of -3.3%. In other words the amount that we thought that the government would reduce the money that they give us for the following year. The settlement was announced by the government yesterday and the actual reduction is significantly greater, at -5%.  Not only will this bigger reduction have an impact upon our plans for next year, they will also have an impact in future years. We are now working through what changes are required.