Decision Maker: Cabinet

Outcome: Recommendations Approved

Is Key Decision?: Yes

Is Callable In?: Yes

Date of Decision: December 16, 2025

Purpose: To provide a budget update for 2026/27 - 2028/29

Content: The Cabinet considered a report of the Deputy Chief Finance Officer, which sought update on the Revenue Budget 2026/27 to 2028/29.   The Cabinet Member Finance and Growth delivered a brief summary of the report’s key points.   The Deputy Chief Finance Officer was in attendance to present the information and respond to questions and comments from the Cabinet Members.   The Senior Officer informed that the Council was forecasting a balanced budget for 2026/27 with a budget gap of £0.656m in 2027/28 rising to £4.423m in 2028/29 based on the latest information available. The position reflected the known pressures and assumptions around Government funding after the Policy Statement was announced in November, and ahead of the Provisional Settlement due to be announced in Mid-December 2025.   The Senior Officer continued with an update on the Council’s Medium Term Financial Strategy (MTFS). The Medium-Term Financial Strategy provided the latest budget position for the Council, set out the key financial challenges and issues which would be faced over the period, and provided details of the assumptions and estimates which underpinned the budget.   Resolved: 1.     That the updated Revenue Budget Position 2026/27 to 2028/29, which includes a balanced budget for 2026/27 and a budget gap of £0.656m in 2027/28 rising to £4.423m in 2028/29 be noted; 2.     That the update on the Council’s Medium Term Financial Strategy be noted; 3.     That the business as usual budget efficiencies in Appendix 2 to the report be noted; 4.     That the proposed reduction in vacant posts as detailed in Appendix 3 to the report be noted; 5.     That the budget efficiency / savings requiring consultation in Appendix 4 and 5 to the report be approved, noting that a separate report for approval to consult on the Local Council Tax Support Scheme had been approved at Cabinet on the 25th November 2025 and the Community Asset Report would go to Cabinet on the 5th February 2026 for approval.   Reason for decision: Cabinet Members are required to recommend a balanced 2026/27 Revenue Budget to Budget Council, and provisional budgets for 2027/28 to 2028/29. The Council is required to set a balanced budget for 2026/27 by 11th March 2026. The Revenue Budget and Medium Term Financial Strategy are key elements of the budget setting process.   Alternatives considered and rejected: The Council is legally obliged to set a balanced budget. The budget setting process is complex and must be undertaken in a planned way. It is equally important that assumptions used in the preparation of the budget are agreed, reasonable and consistently applied by all services.