Decision Maker: Cabinet

Outcome: Recommendations Approved

Is Key Decision?: Yes

Is Callable In?: Yes

Date of Decision: November 19, 2025

Purpose: This report provides an update in relation to the Council’s Medium Term Financial Strategy (MTFS) for the General Fund for the four financial years 2026-30 including current assumptions about funding, potential growth pressures and savings plans. Work will continue to refine the modelling over the next three months and a final budget for 2026-27 will be presented to the Executive Mayor and Cabinet in February 2026 and Full Council in February/March 2026.

Content: For the reasons set out in the report and its appendices, the Executive Mayor and Cabinet AGREED:   2.1 To note the updated financial forecast and medium-term financial strategy assumptions set out in this report.   2.2 To note the dialogue with Government, via the team of Commissioners appointed by Government, to find solutions to restore financial and operational sustainability for the Council. This fulfils the requirements of the Statutory Recommendation raised by the External Auditor, Grant Thornton, at Council on 22 October 2025.   2.3 To consider the outcome of the review of the Council Tax Support scheme at paragraphs 5.63 to 5.72 of this report.   2.4 To approve the recommendation to Full Council that the Council Tax Support scheme is not changed from that agreed by Full Council resolution on 6 March 2024 and endorsed without change by Full Council resolution on 26 February 2025.   2.5 To approve the recommendation to Full Council to review the Council Tax Support scheme during 2026-27.   2.6 To note the budget timetable set out in Appendix E.   2.7 To note Croydon Council’s response to the Government’s Fair Funding Reform 2.0 consultation, attached as Appendix F.