Decision Maker: Cabinet

Outcome: For Determination

Is Key Decision?: Yes

Is Callable In?: Yes

Date of Decision: October 30, 2024

Purpose:

Content: AGREED: That Cabinet noted the report and: i)                 Discussed and endorse the recent CIPFA review of the council’s financial resilience ii)               Discussed and endorsed the draft FISP iii)             Recommended that the FISP is taken to Full Council on 20 November for final approval iv)             Delegated authority to the Chief Executive, in consultation with the Leader and Cabinet Member for Finance, to make final amendments to the draft - before being submitted to Full Council for approval v)               Following Full Council endorsement, agreed for the FISP to be published alongside being formally sent to CIPFA and MHCLG vi)             Noted that the revised Medium Term Financial Plan and budget for 2025/26 will be coming to Cabinet in due course, and should be considered in conjunction with the FISP vii)            Endorsed the need for a Financial Improvement and Sustainability Board and delegates authority to the Chief Executive, in consultation with the Leader and Cabinet Member for Finance, to finalise arrangements to put the Board in place by the end of the calendar year.