Purpose

This report sets out a proposed framework for the 2026/27 MTFS refresh to enable enable members to begin considering draft 2026/27 Budget and 2026-31 Medium Term Financial Strategy proposals while maintaining a longer-term focus on the Council’s financial sustainability.

Decision

That Cabinet:

1. Notes the emerging financial position within which the 2026/27 budget and 2026-31 Medium-Term Financial Strategy will be developed;
2. Agrees the strategic principles that will form the basis of the Medium-Term Financial Strategy, as set out in paragraph 2.5 of the report;
3. Approves the proposals for the refresh of the 2026-31 Medium-Term Financial Strategy and Capital Strategy, as set out in Sections 2 and 3 of the report;
4. Notes the requirement for the Authority to set a sustainable and balanced budget which shows how income will equal expenditure over the short and medium-term; and
5. Approves the timetable for agreeing the 2026/27 budget and 2026-31 Medium-Term Financial Strategy.