Content

Decision taken
The Cabinet:
1.   
Noted the contents of the report
2.   
Approved the principles to be adopted for the 2025/26 budget
setting process as highlighted in the report, in particular the
2025/26 budget setting process should focus on closing the
indicative budget gap.
3.   
Agreed to delegate authority to the Executive Director (Finance and
Transformation), in consultation with the Executive Member for
Resources, to submit an application for the 2025/26 Business Rates
Pooling arrangement for Hertfordshire, if after full consideration,
there is a financial case for doing so.
 
Reason for
decision
The report provided an
update to the Medium-Term Finacial Forecast based on Quarter 1
Budget Monitoring Reports. It was highlighted that a number of the
variances would be ongoing, and have added additional pressures in
the future such as the crematorium income and housing benefit
subsidy.