Content

11.1

The Committee considered a report of the
Director of Finance and Commercial Services which sought to
articulate the future ambition for the Council, the current
position against this ambition both financially and
non-financially.

 

 

11.2

RESOLVED UNANIMOUSLY: That the
Finance and Performance Policy Committee:-
 
a)   
Note the current financial position, including the financial
drivers and the link between the MTFS and Future Sheffield to
address these
b)   
Note the Medium-Term Financial Strategy (MTFS) 2026/27 –
2029/30 as set out in this report, in Appendix 1 and summarised in
Annex A
c)   
Note the MTFS budget gap stands at £69.6m by 2029/30, an
increase of £17.3m compared to the MTFS published in March
2025
d)   
Note this adverse movement is mainly the result of expanding the
MTFS period to include 2029/30 and increased demand pressures in
social care services totalling £62.2m. These are
significantly offset by the inclusion of the savings identified
within the Future Sheffield Programme of £44.9m
e)   
Note for consideration the key assumptions applied in determining
the updated MTFS budget gap as set out in Annex B of this
report
f)     
Note the proposed approach to ensure the financial sustainability
of the Council over the medium term
g)   
Note the recommended proposed changes that will take place across
each layer of the Target Operating Model (TOM) under Future
Sheffield, and the associated benefits and risks, as set out in
Appendix 2
h)   
Note the detailed update on progress of the Future Sheffield
Transformation programme including the financial and non-financial
benefits identified to date
i)     
Note the proposed next steps for Future Sheffield to progress with
the implementation of the TOM and the delivery of benefits

 

 

 

 

11.3

Reasons for
Decision

 

 

11.3.1

N/A

 

 

 

 

11.4

Alternatives
Considered and Rejected

 

 

11.4.1

The Sensitivity Analysis within Annex C sets
out what might be the result of changes to the assumptions applied
in our MTFS planning. Accepted assumption are based on stress
testing by business strategy and financial professionals within the
Council to arrive at our best estimates.