Purpose

To provide a framework for the 2023/24 MTFS
refresh for Cabinet to consider that will enable the Council to
respond effectively to changing circumstances while maintaining a
longer-term focus on the Council’s financial
sustainability.

Decision

That Cabinet:
 
1.    
Notes the emerging financial position within which the 2024/25
budget and 2024-29 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 2.4 of the
report;
 
3.    
Subject to the agreement of the principles, approves the proposals
for the refresh of the 2024/25 Medium-Term Financial Strategy and
Capital Strategy, as set out in Sections 3 and 4 of the report;
 
4.    
Notes the requirement for the Authority to set a sustainable
balanced budget which shows how income will equal spend over the
short- and medium term; and
 
5.    
Approves the timetable for agreeing the 2024/25 budget and
Medium-Term Financial Strategy Refresh.