Here's a summary of the Royal Borough of Greenwich Cabinet meeting:

The Cabinet considered the borough's medium-term financial strategy, budget monitoring, and draft statement of accounts, and approved a new outdoor events policy with associated fees. The Medium Term Financial Strategy 2026/27+ will be forwarded to the full council for consideration, while the Royal Borough of Greenwich Outdoor Events Policy was adopted, formalising event hire charges and application fees for the council's parks and open spaces.

Here's a more detailed look at the key discussion points:

Medium Term Financial Strategy 2026/27+

The Cabinet reviewed the Medium Term Financial Strategy 2026/27+, which forecasts a resourcing gap of £45.1 million in 2026/27, potentially increasing to £136.8 million by 2029/30. The strategy noted potentially significant financial risks and is designed to be a continuous process, updated regularly. The strategy will be passed to the full council for further consideration.

The report highlighted that the Fair Funding Review 2.0 (FFR 2.0) could lead to a reduction in government funding for Greenwich, potentially reaching a cumulative reduction of £24.7 million by 2028/29. The report also noted that the recent Spending Review in June 2025 set government spending plans for the next 3 years. In 2026/27 the local government funding system will be reformed significantly including a reset of the Business Rates Baselines, the first time this has happened since 2013/14.

The report also noted that the Council still faces significant risks in terms of its future financial position, with issues affecting ongoing funding including:

• Local authorities have seen significant reductions in their spending power, which has coincided with increasing demand for their services and many inflationary pressures exceeding those in the wider economy. Recent funding settlements, while increasing in cash terms, have not kept pace with these pressures leading to a downward spiral.
• Significant price increases arising associated with:
  • Social Care
  • Temporary Accommodation
  • Waste Services
  • Inflationary pressures
  • Cost-of living

Royal Borough of Greenwich Outdoor Events Policy

The Cabinet agreed to adopt the Royal Borough of Greenwich Outdoor Events Policy, which will govern the use of the council's parks and open spaces. The policy aims to provide enhanced governance and responsible management of these spaces for events. It includes the implementation of event application fees for all applicants and formalises event hire charges for commercial events. The policy is intended to support the delivery of the Culture Strategy¹.

The policy outlines principles for event organisers, including:

• Fairness, consistency, and transparency in the application process.
• Allowing residents to continue enjoying parks and open spaces safely.
• Operating with care for the sites and in accordance with health and safety standards.
• Ensuring events are inclusive and do not cause offence or discrimination.

The policy also sets out restrictions on certain types of events and content, such as political events and proselytising religious activities.

The policy introduces a tiered system for events based on attendance:

• Small: up to 99 attendees
• Medium: 100-499 attendees
• Large: 500-4,999 attendees
• Major: 5,000+ attendees

Each tier has different requirements for approval and organiser competence.

The policy includes a schedule of fees for commercial events, with a mandatory 10% environmental impact fee to support environmental projects within parks and open spaces.

2025/26 Q1 Budget Monitor

The Cabinet noted the Council's forecast revenue outturn position as at the end of June 2025. The report noted that the councils MTFS forecast for the years ahead shows a substantial funding gap, which does not currently allow for any structural deficit or slippage in savings from the current financial year. The cabinet also noted that in light of this, the council will need to take in year measures to reduce / mitigate the risks of those potential effects.

Draft Statement of Accounts 2024/25

The Cabinet considered the authority's draft Statement of Accounts for the year ended 31 March 2025, which had been submitted to Forvis Mazars² for audit.