Decision Maker:

Outcome: Recommendations Approved

Is Key Decision?: No

Is Callable In?: No

Date of Decision: July 21, 2025

Purpose:

Content: 11.1 The Committee considered a report of the Director of Finance and Commercial Services which sought to articulate the future ambition for the Council, the current position against this ambition both financially and non-financially.     11.2 RESOLVED UNANIMOUSLY: That the Finance and Performance Policy Committee:-   a)    Note the current financial position, including the financial drivers and the link between the MTFS and Future Sheffield to address these b)    Note the Medium-Term Financial Strategy (MTFS) 2026/27 – 2029/30 as set out in this report, in Appendix 1 and summarised in Annex A c)    Note the MTFS budget gap stands at £69.6m by 2029/30, an increase of £17.3m compared to the MTFS published in March 2025 d)    Note this adverse movement is mainly the result of expanding the MTFS period to include 2029/30 and increased demand pressures in social care services totalling £62.2m. These are significantly offset by the inclusion of the savings identified within the Future Sheffield Programme of £44.9m e)    Note for consideration the key assumptions applied in determining the updated MTFS budget gap as set out in Annex B of this report f)      Note the proposed approach to ensure the financial sustainability of the Council over the medium term g)    Note the recommended proposed changes that will take place across each layer of the Target Operating Model (TOM) under Future Sheffield, and the associated benefits and risks, as set out in Appendix 2 h)    Note the detailed update on progress of the Future Sheffield Transformation programme including the financial and non-financial benefits identified to date i)      Note the proposed next steps for Future Sheffield to progress with the implementation of the TOM and the delivery of benefits         11.3 Reasons for Decision     11.3.1 N/A         11.4 Alternatives Considered and Rejected     11.4.1 The Sensitivity Analysis within Annex C sets out what might be the result of changes to the assumptions applied in our MTFS planning. Accepted assumption are based on stress testing by business strategy and financial professionals within the Council to arrive at our best estimates.