Decision Maker: Cabinet

Outcome: Recommendations Approved

Is Key Decision?: No

Is Callable In?: No

Date of Decision: December 10, 2024

Purpose: Present progress in delivering a legally balance budget for 2025/26

Content: RESOLVED that Cabinet: - (a)           Acknowledges the ongoing progress being made to maintain a balanced budget position for 2025/26 and MTFP. (b)           Endorses the latest position regarding the developing 2025/26 Budget and MTFP position. (c)           Approve the continuation of the current Local Council Tax Support Scheme (LCTSS) into 2025/26. (d)           Request Portfolio Holders, Corporate Directors and Budget Holders bring forward the necessary additional savings, efficiencies and additional income proposals to enable the 2025/26 Budget to be balanced. Voting: Unanimous Portfolio Holder: Finance Reason To comply with accounting codes of practice and best practice which requires councils to have a rolling multi-year medium term financial plan. To provide Cabinet with the latest high-level overview of the development of the 2025/26 Budget and 3-year medium-term financial plan with reference to the ongoing conversation with DfE, MHCLG and CIPFA regarding the difficulties presented by the accumulating DSG deficit.