Purpose

This report sets out the Budget Strategy to support the preparation of the 2027/28 revenue and capital budgets and presents an updated Medium Term Financial Strategy forecast.

Decision

The purpose of this item was to set out the Budget Strategy to support the preparation of the 2027/28 revenue and capital budgets and present an updated Medium Term Financial Strategy forecast.

Councillor Patrick Coleman, Cabinet Member for Finance introduced the report which set out the 2027/28 Budget Strategy and updated Medium-Term Financial Strategy (MTFS) to 2030/31. Councillor Coleman explained that, while a number of local authorities had required exceptional financial support, Cotswold District Council remained in a comparatively strong financial position with no immediate risk of requiring such support. He highlighted the updated financial forecasts, the progress made in reducing the projected budget shortfall and the Council’s intention to maintain sound finances through local government reorganisation. He also highlighted the proposed procurement of replacement waste vehicles, which could be funded without borrowing.

The recommendations were proposed by Councillor Patrick Coleman and seconded by Councillor Tony Dale and put to the vote.

Cabinet RESOLVED to:

1. Approve the 2027/28 Budget Strategy.
2. Delegate authority to the Head of Waste & Environment, in consultation with the Deputy Chief Executive and Section 151 Officer and the Cabinet Member for Finance to commence the procurement process for vehicles identified in the Fleet Replacement Programme for 2027/28.

Voting record

7 For, 0 Against, 0 Abstentions.