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The Cabinet considered
a report of the Director of Corporate Services
which provided an update on the Revenue Budget 2025/26 to
2027/28.
 
The Senior Officer
was in attendance to present the
information and to answer the questions and the comments of the
Cabinet Members.
 
The current forecast
gap for 2025/26 was £5.887m rising to
£24.678m in 2027/28 based on the latest information
available. Significant pressures in the budget related to
Children’s Services and Adult Social Care. The position
reflected the known pressures and assumptions around Government
funding made ahead of the Policy Statement / Provisional Settlement
due to be announced in November / December 2024.
 
The Medium Term
Financial Strategy provided the latest budget position for the
Council, set out the key financial challenges and issues which would be faced over the period, and
provided details of the assumptions and estimates which
underpined the budget.
 
Resolved:
1.   
That the updated Revenue Budget Position 2025/26 to 2027/28,
including the forecast budget gap for 2025/26 being £5.887m.
Further work is required to set a balanced budget at Budget Council
in February 2025 after the announcement of the provisional and
final settlement be noted;
2.   
That the update on the Council’s Medium Term Financial
Strategy be noted;
3.   
That the business as usual budget efficiencies in Appendix 2 of the
report be noted;
4.   
That the efficiencies requiring Consultation in Appendix 3 of the
report be agreed.
 
Reason for
decision:
Cabinet members were
required to recommend a balanced 2025/26 Revenue Budget to Budget
Council, and provisional budgets for 2026/27 to 2027/28.
The Council is
required to set a balanced budget for 2025/26 by 11th March 2025.
The Revenue Budget and Medium Term Financial Strategy were key
elements of the budget setting process.