Decision

*RESOLVED –

1. That the forecast outturn position of the General Fund Revenue Account for the financial year 2026/27 (paragraph 4.10), be noted.
2. That the continued in-year budget strategy of implementing management action to deliver an underspend General Fund Revenue Account budget outturn position for the financial year 2026/27 (paragraph 4.12), be supported.
3. That the refreshed Medium-Term Financial Plan projections for the General Fund Revenue Account over the period 2027/28 to 2029/30 (paragraph 4.66), be noted.
4. That the initial proposed strategy to address projected future financial gaps in the Medium-Term Financial Plan (paragraph 4.71) be supported and the financial implications of the recently announced pause and review process associated with Local Government Reorganisation (paragraph 4.72), be noted.

REASONS FOR DECISIONS

1. This report summarises the current assessment of the Council’s forecast outturn position for the financial year 2026/27 in relation to the General Fund Revenue. It is the second formal monitoring report for the 2026/27 financial year.
2. This report also provides a refresh of the projected MTFP position and represents the first phase of the Council’s draft budget and MTFP setting process for 2027/28 to 2029/30.
3. It is is acknowledged that further work is required to set a balanced budget for 2027/28. This report provides context of the financial environment to support the ongoing financial planning being undertaken to meet this statutory requirement.
4. It should be noted that the financial planning activity undertaken to date and underpinning this report was predicated on the expected implementation of proposed Local Government Reorganisation (LGR) on 1 April 2028. The Government’s pause and review of its policy, announced on 7 September 2026 by the Secretary of State, will have significant implications on the continued development of a robust financial strategy to meet the changed circumstances.