Decision Maker: Cabinet

Outcome: Decision approved

Is Key Decision?: Yes

Is Callable In?: Yes

Date of Decision: October 23, 2025

Purpose: The October Finance review reports the latest budget monitoring as at Quarter Two, reprofiles the approved capital budget across the MTFS period, and address how to close the forecast budget gap for 2026/27 budget setting, by setting out the scope of opportunity for savings options to follow in the draft budget report at a later cabinet.

Content: For the reasons set out in this report and its appendices, Cabinet RESOLVED to Agree to:   i)  Note the Council’s updated financial situation, as set out throughout the revenue and capital budget monitoring reports. ii)  Agree the reprofiling and budget reductions to the capital programme as set out in the capital budget monitoring report (appendix B4). iii)  Agree to go out to statutory consultation on changes to simplify and reduce the support offered to residents via the Council Tax Reduction Scheme to enable this to be presented as a savings option for the 2026/27 budget. iv)  Agree to launch a public engagement campaign on the difficult choices facing the council so that residents and other stakeholders can have effective input and inform the ultimate political decision making on the 2026/27 budget.   Alternatives considered   a)  Failure to face up to the budget challenge in the hope that things get better could mean the council faces very difficult decisions to be made in a short space of time in the run up to budget setting in February 2026.