Issue - meetings

The purpose of this report is to provide an update to the Medium Term Financial Strategy along with an outline of the 2025/26 budget process. The report also informs Executive of the key risks and challenges, along with an overview of the main assumptions used.

Resolved:

                         i.         Agreed the Medium-Term Financial Strategy as outlined in this report.

Reason:     To ensure the Council meets future financial challenges and produces a robust budget.

The Director of Finance introduced the report. She noted that the report outlined planning assumption and that final budget decisions were for the decision of Full Council. She highlighted that the Council was awaiting the Local Government Settlement following the Chancellor of the Exchequer Autumn budget. She confirmed that there remained an expected overspend of £30m over the next 3 years that would need to be addressed.  

Resolved:

                      i.         Agreed the Medium-Term Financial Strategy as outlined in this report.

Reason:     To ensure the Council meets future financial challenges and produces a robust budget.