Decision Maker:

Outcome: Recommendations Approved

Is Key Decision?: No

Is Callable In?: Yes

Date of Decision: October 8, 2024

Purpose:

Content: Decision taken The Cabinet: 1.    Noted the contents of the report 2.    Approved the principles to be adopted for the 2025/26 budget setting process as highlighted in the report, in particular the 2025/26 budget setting process should focus on closing the indicative budget gap. 3.    Agreed to delegate authority to the Executive Director (Finance and Transformation), in consultation with the Executive Member for Resources, to submit an application for the 2025/26 Business Rates Pooling arrangement for Hertfordshire, if after full consideration, there is a financial case for doing so.   Reason for decision The report provided an update to the Medium-Term Finacial Forecast based on Quarter 1 Budget Monitoring Reports. It was highlighted that a number of the variances would be ongoing, and have added additional pressures in the future such as the crematorium income and housing benefit subsidy.