Purpose

The report provides members with an update of
the MTFS including Budget Proposals for 2026-27. The report also
provides Members with proposed budgeted investments, income growth
and savings for 2026-27.

Content

Resolved –
 
(1)                   
That the updated Medium-Term Financial Strategy
for 2026/27 to 2030/31, including the CD request for 2026/27 and
the revised recovery period be approved.
 
(2)                   
  That the
savings target of £50m per annum from 2027/28 to 2028/29,
currently estimated to reduce to £40m from 2029/30 be
agreed;
 
(3)                   
  That
Executive agreed to receive an updated MTFS in March 2026;
 
(4)                   
 That Executive agreed
the continued spending panel and related control processes for a
further two years until the Council can evidence a sustainable
financial position and a track record of robust governance by
2028/29; 
 
(5)                     
That Executive noted the key assumptions under
pinning the MTFS listed in paragraph 5.40 of Document
“AS”;
 
(6)                   
  That
Executive noted that without EFS which is subject to a review by
CIPFA and agreement by MHCLG the Council would not be able to set a
budget for 2026/27;
 
(7)                   
  That
Executive noted the current position on the DSG, the likely Council
forecast for this and agree that further work be
undertaken.
 

To be actioned by: 
Interim Strategic Director of Corporate Resources /                 
         
S151
 
Overview and Scrutiny Area:
Corporate
 
(Steven Mair)