Decision details

(Cabinet Member with Special Responsibility Councillor Hamilton-Cox)

Cabinet received a report from the Chief Finance Officer that provided an update on the Council’s Medium Term Financial Strategy (MTFS) forecasts for 2026/27 to 2030/31.

The report considered Local Government Funding and Business rates, Council Tax, General Fund Projections, Capital Investment and financing, the short and medium-term budget gap, Provisions, Reserves and balances and Local Government Reorganisation.  The risks to the Council were contained throughout the report and as the report was for noting, no alternative proposals had been put forward.

Whilst delivering a balanced budget for 2026/27, the Council continues to face unprecedented levels of financial and economic uncertainty. This hampers the degree of confidence with which forecasts can be made and inevitably some key estimates and assumptions are likely to change in the coming months.

The future key challenge surrounding Local Government Reorganisation should not be underestimated and the Council must position itself in the best financial health that is possible, in order to maintain both financial and organisational stability.

Councillor Hamilton-Cox proposed, seconded by Councillor Maddocks:-

“That the recommendations, as set out in the report, be noted.”

Councillors then voted:-

Resolved unanimously:

(1)            That having considered the draft future years budget estimates as set out in the report as the latest information available Cabinet agrees that the update be referred on to Council on 25 February 2026 for information. A final consolidated medium term financial strategy will be agreed by the s151 officer in consultation with the portfolio holder before being presented to Full Council in March.

Officer responsible for effecting the decision:

Chief Officer Resources

Reasons for making the decision:

Performance, project, and resource monitoring provides a link between the Council Plan and operational achievement, by providing regular updates on the impact of operational initiatives against strategic aims.