This will be my last article as president of the Society of District Council Treasurers. During my term of office, I met many new colleagues across local and central government. I continue to be humbled by the enthusiasm and desire of colleagues to find a way through austerity which will minimise the impact on the public, by finding ways to generate income, seeking a fairer approach to funding needs or engaging in the review of local government finance with an open mind and a willingness to explore options. The sector rose to the challenge and shows a wealth of talent and skills.

As we start to think about the medium-term financial plans and turn our thoughts to budgets for 2018/19 and beyond, we are again faced with uncertainty. What is the future for 100% business rate funding? The fact that the Local Government Finance Bill fell with the election increases treasurers' concerns about the next four-to-five-year-period.