Purpose

This report presents to Cabinet the draft Budget 2027-28 and Medium Term Financial Strategy 2027-31.  This supports the Budget 2027-28 and Medium Term Financial Strategy 2027-31 which will be presented to Cabinet in February and submitted to Budget Council 24 February 2027.

Decision

For the reasons set out in the report and its appendices, the Executive Mayor and Cabinet AGREED to:

1. 1 Authorise officers to engage with residents and other interested parties on the proposals set out in this report, including formal consultation where required.
2. 2. Note that officers will report back on the results of the engagement and consultation when the final budget is proposed as well as presenting appropriate equalities impact assessments and such other information as may be required.
3. 3 Note the current intention to include the items in Appendix C in the final budget, subject to the results of the processes described above.
4. 4 Note that further policy consideration items shown as approved in principle by the Executive Mayor in Appendix E are being developed by officers for inclusion in the final budget, subject to the results of the processes described above.
5. 5 Note that section 5 of this report contains information on other budget items where the summary information in Appendices C and E would not be sufficient and to note the proposed treatment of each of these in the final budget, subject also to the processes described above.
6. 6 Note that in the event that all of the items in the budget were agreed as currently drafted including the growth and savings set out in Appendix C, potential policy savings still to come and growth risks, the budget gap for 2027/28 would range between £103.7m and £120.7m, which would have to be met by EFS.