Purpose

To update Cabinet on the budget
gap for the forthcoming year 2026/27 and the MTFP which includes
consideration of the financial position and requisite savings
targets. To outline the Budget Strategy approach as well as
outlining considerations to be given with respect to income and the
Budget Timetable Framework.

Content

RESOLVED: that
 

1.              
the budget principles as set out in the report, on
which the Budget Strategy will be based and the approach to meeting
the Budget Reduction Requirement both in 2026/27 and across the
period of the Medium-Term Financial Plan be agreed.
 
2.       directorates work
with the relevant Portfolio Cabinet Member(s), in consultation with
the Corporate Director Resources and Cabinet Member for Finance,
Modernisation and Performance to identify potential savings to
assist in addressing the indicative budget gap of £38.4
million for 2026/27 and £126.9 million across the period of
the Medium-Term Financial Plan.
 
3.       authority be
delegated to the Chief Executive, in consultation with the Leader
and Cabinet Member for Finance, Modernisation and Performance, to
implement any saving proposal in advance of 2026/27 where no policy
recommendation is required or where a policy decision has already
been taken.
 
4.       it be noted that
work will continue to update and refresh the Medium-Term Financial
Plan and that this will be reported to Members as
appropriate. 
 
5.       it be proposed that
 Council agree that the Budget Timetable
Framework set out in Appendix 2 be adopted, and that the work
outlined is progressed with a view to informing budget
preparation.
 
6.       it be agreed that
consultation on the 2026/27 budget proposals will take place when
the detail of options is available in order to inform the
preparation of the draft 2026/27 Budget.