Purpose

The Council reviews its Medium-Term Financial Strategy (MTFS) and financial forecasts twice a year in accordance with best practice. The report updates the MTFS to the financial year 2030/31 and sets out the updated medium-term financial plan following the outcome of a mid-year review of financial forecasts.

Decision

Cabinet has:

a)    approved and recommended to Council the refreshed Medium Term Financial Strategy 2026-2031 at Appendix A and the updated financial forecast at Appendix B;

b)    noted the projected changes in service spending and the overall resources available to the Council over the medium term to 2030/31; and

c)    noted the budget setting framework and timetable for future reporting and decision making.