Medium-Term Financial Strategy (MTFS) 2025/26 to 2029/30

April 8, 2024 Executive (Other) Key decision Approved View on council website
Full council record
Content

Following consideration of the
officer report, appendices and discussion, the
Executive:
 

1.     
Recommends approval of the Medium-Term Financial
Strategy (MTFS) for 2025/26 to 2029/30 and the savings targets for
2025/26 to Council.
 

2.    
Recommends that the Council continues with the aim
of avoiding a section 114 notice by taking all of the necessary
actions and continuing to operate as if one had been
issued. 
 

3.    
Agreed to receive an updated Medium-Term Financial
Plan in September 2024 which sets out the latest forecasts of
future service costs, income and funding from 2025/26 to
2029/30.
 

4.   
Recommends to continue actively campaigning for the
reform of funding of councils and greater local
freedoms.
 

5.    
Approved that the Financial Control Boards continue
to operate in 2024/25 as set out in Appendix 3 of the
report. 

Supporting Documents

Appendix 3 - Financial Control Boards.pdf
Appendix 2 - Finance Achievements 2023-24.pdf
Appendix 1 - High Level MTFP.pdf
Medium Term Financial Strategy 2025-26 to 2029-30.pdf
Appendix 5 - S151 Assessment of current financial position.pdf
Appendix 4 - Development of risks for Somerset Council.pdf

Details

OutcomeRecommendations Approved
Decision date8 Apr 2024
Subject to call-inYes