Decision Maker: Cabinet

Outcome: Recommendations approved

Is Key Decision?: Yes

Is Callable In?: Yes

Date of Decision: November 18, 2024

Purpose: To consider a report on the Council’s current financial position and Medium Term Financial Strategy and take any decisions arising from the July finance review.

Content: That the following be approved as a basis for consultation:   1.  Phase one 2025/26 budget proposals for revenue;    2.  Phase two 2025/26 budget proposals for revenue will be presented to Cabinet in January to reduce the £17.351m projected gap prior to the local government finance settlement due in December;   3.  Draft five-year capital programme for 2025/26 to 2029/30;   4.  Update on the Medium Term Financial Strategy 2025/26 to 2028/29;   Cabinet agreed to note the following:   5.  Updated Treasury Management Strategy.   6.  The Chief Executive and Executive Director, Finance and Commercial, Commissioners to continue conversations with the Ministry of Housing, Communities and Local Government (MHCLG), and His Majesty’s Treasury (HMT) on terms for Exceptional Financial Support for 2025/26.