Decision Maker: Cabinet

Outcome: For Determination

Is Key Decision?: Yes

Is Callable In?: Yes

Date of Decision: July 22, 2025

Purpose: The July Finance review comprises a number of separate reports, which combined provide an overview of the council’s recent, current and future financial positon.   These reports are; 1.  July Finance Review cover report 2.  The 2024/25 Financial Outturn report 3.  Q1 2025/26 Budget Monitoring report 4.  Medium Term Financial Strategy report, which will include an updated estimate for the MTFS ‘Budget Gap’ position.

Content: For the reasons set out in the report and its appendices Cabinet RESOLVED to agree to:   i)  Note the Council’s updated financial situation, as set out throughout the review and in Report A, B, and C. ii)  Agree to proceed with a public consultation by the autumn, setting out the Council’s position and seeking views on which services should be prioritised to inform political decision making. iii)  Note the Council’s approach and commitment to reducing the budget gap by finding more savings, including through zero based budgeting to be presented back to Cabinet in the Autumn of 2025/26.   Alternatives Considered   a)  Failure to face up to the budget challenge in the hope that things get better could mean the council faces very difficult decisions to be made in a short space of time in the run up to budget setting in February 2026.