Purpose

This report seeks agreement on the Budget
assumptions and resource update for 2026/27 to 2029/30.

Content

That Cabinet:

 
1)            
Note the updated
forecasts including funding assumptions and net expenditure
projections included in this report.
 
2)            
Note the updated
predicted budget gaps totalling over £86 million over the
Medium Term Financial Strategy period, including £24.926m in
2026/27.

 
3)            
Note the draft savings proposals totalling
£12.446m at Appendix 1.

 
4)            
Note the draft accompanying Equality Impact
Assessments (EIAs) at Appendix 4, and note that the final EIAs will
be provided to Cabinet and Budget Council in February
2026.

 
5)            
Approve the extension
of the Innovation Fund to 2029/30, committing additional total
funding of £8.140m, as detailed in Section 6, to ensure the
continuation of transformational activity across the full Medium
Term Financial Strategy period to 2029/30.

 
6)            
Approve the release of £1.041m of earmarked
reserves into a new general risk reserve as set out in Section 8
and Appendix 5.

 
7)            
Note that plans to
arrive at a legally balanced budget for 2026/27, and the legal
requirement to set a Council Tax will be presented to Cabinet and
Budget Council in February 2026.

 
8)            
Note that projections
for next year and the Medium Term Financial Strategy (MTFS) will be
updated following the announcement of the Provisional Local
Government Finance Settlement, expected week commencing 15 December
2025.