Decision Maker: Executive

Outcome: For Determination

Is Key Decision?: Yes

Is Callable In?: No

Date of Decision: January 27, 2026

Purpose: The report provides members with an update of the MTFS including Budget Proposals for 2026-27. The report also provides Members with proposed budgeted investments, income growth and savings for 2026-27.

Content: Resolved –   (1)                    That the updated Medium-Term Financial Strategy for 2026/27 to 2030/31, including the CD request for 2026/27 and the revised recovery period be approved.   (2)                      That the savings target of £50m per annum from 2027/28 to 2028/29, currently estimated to reduce to £40m from 2029/30 be agreed;   (3)                      That Executive agreed to receive an updated MTFS in March 2026;   (4)                     That Executive agreed the continued spending panel and related control processes for a further two years until the Council can evidence a sustainable financial position and a track record of robust governance by 2028/29;    (5)                      That Executive noted the key assumptions under pinning the MTFS listed in paragraph 5.40 of Document “AS”;   (6)                      That Executive noted that without EFS which is subject to a review by CIPFA and agreement by MHCLG the Council would not be able to set a budget for 2026/27;   (7)                      That Executive noted the current position on the DSG, the likely Council forecast for this and agree that further work be undertaken.   To be actioned by:  Interim Strategic Director of Corporate Resources /                            S151   Overview and Scrutiny Area: Corporate   (Steven Mair)