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Following consideration of the officer report,
appendices and discussion, the Executive resolved to agree and
recommend to Full Council:
 

The advice of the Council’s
Interim Chief Finance Officer (Section 151 Officer) in their
Section 25 report (Appendix A) in relation to the robustness of the
Budget estimates and the adequacy of the level of Reserves for
2025/26.
The Section 151 Officer’s
warning about the critical financial position of the Council, the
£101.384m 2026/27 Budget gap increasing to £190.041m
over the medium term, inadequate reserves and the lack of financial
sustainability over the period 2026/27 to 2029/30.
The minimum level of Reserves is set
at 10% of the Net Revenue income stream on 1 April 2025 which is
£33.254m (excluding the use of EFS to meet the Net Revenue
Budget). The appropriate level of General Fund Balance be set at
£60.000m for 2025/26.
The responsibility of Council
Members under Section 31A of the Local Government Finance Act 1992,
to have regard to this report when making decisions on agreeing the
Budget and setting the Council Tax for the financial year
2025/26.