Purpose

This report sets out a proposed framework for the 2027-32 MTFS refresh to enable enable members to begin considering draft 2027/28 Budget and 2027-32 Medium Term Financial Strategy proposals while maintaining a longer-term focus on the Council’s financial sustainability.

Decision

Resolved

That Cabinet

1)    note the emerging financial position within which the 2027/28 budget and 2027-32 Medium-Term Financial Strategy will be developed;

2)    agree the key principles that will form the basis of the Medium-Term Financial Strategy, as set out in paragraph 2.4 of the report;

3)    subject to the agreement of the principles, approve the proposals for the refresh of the 2027-32 Medium-Term Financial Strategy, as set out in Sections 2, 3 and 4 of the report;

4)    note the legal requirement for the Authority to set a sustainable and balanced budget which shows how income will equal expenditure over the short and medium-term, as set out in Section 5 of the report; and

5)    approve the timetable for agreeing the 2027/28 budget and 2027-32 Medium-Term Financial Strategy, as set out in Section 6 of the report.