Rutland County Council Failure to keep the Medium Term Financial Plan (MTFP) in balance

Strategic Risk Register May 2012


Risk Ref AMBER 9

Impact Critical

Likelihood Medium

Risk Owner Debbie Mogg

Risk Manager Sharon Dring
 
Risk Name: Financial Position

Risk Description: Failure to keep the Medium Term Financial Plan (MTFP) in balance

Risk Controls:
• 5 year MTFP in place rather than 3 year
• MTFP set up for use as a financial modelling tool
• Use of reserves
• Robust financial management
• Efficiency savings programme

Actions:
• Close monitoring of savings achievement
• Star Chamber process to commence early summer 2012 to start to develop longer term savings plans to address the deficit in the later years of the MTFP