Purpose

To receive the draft Medium Term Financial
Strategy and General Fund 2025-26 for the purpose of finalising
proposals for service budgets and Council Tax.

Content

The Executive RESOLVED

That  (i)    the
updated position on the MTFS and the proposals for a light touch
consultation process for the options set out in the report be
noted;

         
(ii)   the savings options at
Appendix 1 to the report be supported for inclusion in the final
budget proposals, subject to consultation;

         
(iii)  the growth pressures at Appendix
2 to the report be supported for inclusion in the final budget
proposals, subject to consultation;

         
(iv)  whilst significant progress has
been made, the scale of the challenge means that the level of
savings is a risk and further options still need to be reviewed and
presented to Members of Finance Working Group, and to Executive and
Full Council in February 2025; and

         
(v)   it be noted that the proposed
Flexible Use of Capital Receipts at Appendix 4 to the report to be
included in the MTFS in February 2025 for Executive and Council
approval subject to any amendments that are required before final
budget setting.

Reason:   The
Council is legally required to set a budget, considering the
longer-term outlook through a MTFS, which is, in the opinion of the
s151 Officer, robust and allows for adequate future levels of
reserves to manage potential risk levels. The report appraises
Members of the work undertaken to date to provide Council with
savings and budget options that meet those requirements.