The Medium Term Financial Plan provides a focus on both Revenue expenditure (day-to-day running costs of providing services) and Capital expenditure (long-term investment in infrastructure, like schools and roads), as well are setting out the Council’s overall Financial Strategy. As well as the MTFP publication, the Council has also produced a separate Capital Strategy document which concentrates on its policy relating to investment in public assets.

The County Council reviews its budgetary position annually and produces a rolling 3-year plan, known as the Medium Term Financial Plan. This plan considers the financial climate at both the local and national level together with available resources and budgetary pressures in arriving at a Financial Strategy.

Increasingly, partnership working is gaining in importance to provide joined-up and cost-effective services to the public. The MTFP also provides details of how this is delivered in financial terms.