Content

12.1

The
Director of Finance and Commercial Services and Assistant Director
of Finance Business Partnering introduced the report which provided
an update on how the Council plans to set a balanced budget for
2026/27. The report set out the budget position, provided an update
on the Provisional Local Government Finance Settlement and set out
the associated assumptions, risks and opportunities to be
considered in setting a balanced budget.

 

 

12.2

RESOLVED UNANIMOUSLY: That the Finance and
Performance Policy Committee:-
 
a)   
Note the impact of the Local Government Provisional Finance
Settlement (LGFS) on the MTFS period to the end of
2029/30.
b)   
Note the balanced budget position for 2026/27.
c)   
Note the approach taken to budget setting has changed from previous
years, with 2025/26 overspends being built into the 2026/27 budget
and updated MTFS position.
d)   
Note the assumption that Council Tax will increase by 4.99%
(inclusive of a 2% Adult Social Care precept) each year throughout
the MTFS period to support the financial sustainability of the
council.
e)   
Note that the Recovery Grant is only confirmed for the next 3 years
and therefore the council should avoid significant ongoing
financial commitments in order to
sustain the benefit from the improved funding through the
LGFS.
f)     
Note the impact of the Future Sheffield programme and the
pressures, savings and investment proposals set out in the closed
Appendix 1 of this report.

 

 

12.3

Reasons for Decision

 

 

12.3.1

N/A

 

 

12.4

Alternatives Considered and Rejected

 

 

12.4.1

The
Council is required by law to deliver a balance budget and
therefore each Committee needs to delivery savings to achieve this.
No alternatives have been considered at this stage.