Purpose

The purpose of this report is to provide the Executive Board with an update on the Council’s Medium Term Financial Plan (MTFP) 2027/30 and set out the process for developing savings options to balance the Council’s Budget in 2027/28.

Decision

RESOLVED:

1)    That the Council’s current financial position based on the financial outturn for 2025/26 and the quarter 1 budget monitoring exercise, both of which were considered by the Executive Board earlier this year, be noted.

2)    That the update to the medium term financial plan for 2027/30, as attached as Appendix A be noted, and that it be known that a further update would be provided once the details of the local government finance settlement 2027/28.

3)    That the timetable set out in the report for the development of the Council’s budget for 2027/28 be noted.

4)    That it be noted that, with a view to maximising the amount of income received by the Council by implementing any changes from 1st January 2027 (where it was possible to do so), all portfolio holders had been requested to undertake a review of all fees and charges in their portfolio budgets, in line with the Council’s constitution and agreed fees and charges framework.

5)    That the portfolio holders, in conjunction with lead strategic directors/directors, be asked to identify and bring forward budget saving options for 2027/28.

6)    That it be agreed that any such proposals arising from the work above be considered by the Executive Board in due course and subject to public and business-based consultation as part of the budget consultation to take place over Autumn 2026, as approved at Executive Board in June 2026.