For emergencies
Medium Term Financial Plan


Medium Term Financial Plan

The Medium Term Financial Plan (MTFP) is closely linked to the Financial Strategy which is the link between the organisation’s long-term service objectives and its financial capacity. BFRS long-term service objectives are set out in the Public Safety Plan (PSP) and Corporate Plan. The PSP sets out the strategic approach to the management of risk in the communities BFRS serve. The Corporate Plan sets out how BFRS intend to equip and develop the organisation and its people to meet the challenges faced by the service. The MTFP details the resources available to facilitate these plans.

As part of the Fire Authority’s Terms of Reference and MTFP, the Authority reviews and sets a balanced budget each year in line with corporate priorities. The MTFP is expressed as a detailed annual budget for the first year, with outline indicative budgets for the following four years.

Under Section 25 of the Local Government Act 2003 the Chief Finance Officer (as S.112 Chief Finance Officer of the Local Government Finance Act 1988) is required to report to Members on:
• The robustness of the estimates made for the purposes of the calculations of the budget
• The adequacy of the proposed financial reserves

The Local Government Act 2003 requires that Members have regard to the report in making their decisions (see section 8).

Section 42A of the Local Government Finance Act 1992 also requires the Authority to have regard to the level of reserves for meeting estimated future expenditure when calculating the net budget requirement.

A copy of this is available to download below.

External links