Purpose

Present the latest medium-term financial plan
(MTFP) of the council

Content

RESOLVED that
Cabinet: -

(a)          
Approve the budget timetable and process as set out in Appendix
A;

(b)          
Endorse the scenario planning exercise that guides the potential
level of activity that may now be needed to present a legally
balance budget for 2025/26;

(c)          
Approve the financial strategy designed to support the ongoing
delivery of a balanced 2025/26 Budget and MTFP as set out in
Appendix B;

(d)          
Note the outcome of the CIPFA Financial Resilience Review and
associated action plan; and

(e)          
Note the letter submitted by the Director of Finance to DLUHC
and CIPFA outlining the challenge that the deficit on the Dedicated
Schools Grant presents
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 medium-term financial
plan.
To present a
proposed financial strategy to support the ongoing delivery of a
balanced budget for 2025/26.
To present the
CIPFA Financial Resilience Review.

To present the letter submitted to DLUHC and CIPFA in regard to the difficulties presented by the
accumulating DSG deficit.