Medium Term Financial Strategy 2024/25 - 2028/29
July 19, 2023 Mayor and Cabinet (Other) Key decision Approved View on council websiteThis summary is generated by AI from the council’s published record and supporting documents. Check the full council record and source link before relying on it.
Summary
Mayor and Cabinet noted risks regarding budget reduction measures, persistent overspends, and uncertain government funding. They agreed the 2024/25 to 2027/28 Medium Term Financial Strategy and the approach to identify budget reduction proposals to meet an estimated £15m gap over four years.
Full council record
Decision
It was MOVED, SECONDED and RESOLVED to
- Note the risks with regards to current year budget reduction measures, the persistent overspends and the uncertainty of future government funding; and the potential for this to impact negatively on the forecast balanced budget position for 2024/25; and
- Agree the 2024/25 to 2027/28 Medium Term Financial Strategy (MTFS) and outline approach being taken to identify budget reduction proposals required to meet the remaining estimated budget gap of £15m over the next four years
Details
| Outcome | Recommendations Approved |
| Decision date | 19 Jul 2023 |