Purpose

To provide progress on delivering a legally
balanced budget for 2025/26

Content

It is RECOMMENDED that Cabinet:

(a)           
Acknowledges the ongoing progress being made to
maintain a balanced budget position for 2025/26 and
MTFP.

(b)          
Endorses the latest position regarding the
developing 2025/26 Budget and MTFP position.

(c)           
Approve the implementation of a targeted
voluntary redundancy process to enable the delivery of 2025/26
savings with delegation to the Chief Executive, in consultation
with the Leader of the Council, to develop an appropriate
policy.

(d)          
Notes the update on the conversation with
government around the impact that the DSG deficit is having on the
financial sustainability of the council.

(e)           
With local MP support, continue to express
concern to government at the existential challenge to the Councils
ability to set a legally balanced budget for 2025/26 posed by
having the lack of cash to fund the special educational needs and
disability service (SEND).

Voting: Unanimous

Portfolio Holder: Finance

Reason

To comply with accounting codes of practice and best
practice which requires councils to have a rolling multi-year
medium term financial plan.

To provide Cabinet with the latest high-level
overview of the development of the 2025/26 Budget and 3-year
medium-term financial plan.

To provide an update on the 22 May 2024 letter
submitted to DLUHC and CIPFA regarding the difficulties presented
by the accumulating DSG deficit.