Purpose

The October Finance review reports the latest
budget monitoring as at Quarter Two, reprofiles the approved
capital budget across the MTFS period, and address how to close the
forecast budget gap for 2026/27 budget setting, by setting out the
scope of opportunity for savings options to follow in the draft
budget report at a later cabinet.

Decision

For the reasons set out in this report and its
appendices, Cabinet RESOLVED to Agree to:
 

i) 
Note the Council’s updated financial situation, as set out
throughout the revenue and capital budget monitoring reports.

ii) 
Agree the reprofiling and budget reductions to the capital
programme as set out in the capital budget monitoring report
(appendix B4).

iii) 
Agree to go out to statutory consultation on changes to simplify
and reduce the support offered to residents via the Council Tax
Reduction Scheme to enable this to be presented as a savings option
for the 2026/27 budget.

iv) 
Agree to launch a public engagement campaign on the difficult
choices facing the council so that residents and other stakeholders
can have effective input and inform the ultimate political decision
making on the 2026/27 budget.
 
Alternatives
considered
 
a) 
Failure to face up to the budget challenge in the hope that things
get better could mean the council faces very difficult decisions to
be made in a short space of time in the run up to budget setting in
February 2026.