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Details
Title:
2026/27 to 2028/29 General Fund Medium Term Financial Plan Refresh - Update to Cabinet at Quarter 1 of the 2025/26 Financial Year
Include item on Forward Plan
Yes
Item Contains Exempt/Private Reports
No
Urgent Decision - Not in Forward Plan
No
Details for Agenda Sheet
Report of the Executive Director of Finance and Section 151 Officer.
Implementation Date (not before meeting on)
Tue 22 Jul 2025
Purpose
The Council needs to ensure that it has an up to date and robust plan for how it will manage its finances and maintain financial viability across the medium term. This report is part of the process of doing so. It provides an update to Cabinet on the latest Medium Term Financial Plan (MTFP) position.
Chief Officer Decision Maker
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Decision Outcome
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On 22 July 2025 Cabinet:-
(i) Noted the update from the Spending Review June 2025;
(ii) Noted the General Fund forecast budget gap for 2026/27, 2027/28 and 2028/29, and at this stage the assumptions remain unchanged from those agreed as part of the budget setting process;
(iii) Noted the importance of ensuring that reserves and balances are at a level which provides some security and cover should these materialise (Appendix 2 to the report);
(iv) Noted the areas being explored to close the budget gap (Section 8, paragraphs 8.1 to 8.29 to the report); and
(v) Endorsed the 2026/27 budget-setting timetable (Section 9, paragraph 9.5 to the report).
THE DEADLINE FOR CALL IN IS 1600 HOURS ON MONDAY 28 JULY 2025.
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Would the recommended decision be contrary to the budget and policy framework:
No
Additional Information
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Overview and Scrutiny
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Decision History
| 06/05/2025 11:04:57 | Nadeem Afzal | Business Item Created | |
| 06/05/2025 11:04:57 | Nadeem Afzal | Committee Added | Cabinet |
| 06/05/2025 11:05:26 | Nadeem Afzal | Status Changed | Decision Proposed [2] |
| 06/05/2025 11:07:23 | Nadeem Afzal | Contacts Edited | |
| 28/05/2025 13:36:29 | Nadeem Afzal | Meeting Added | 22/07/2025 10:00AM |
| 28/05/2025 13:36:50 | Nadeem Afzal | General Details Edited | |
| 28/05/2025 13:43:24 | Nadeem Afzal | General Details Edited | |
| 14/07/2025 16:05:44 | Bethany Lee | Report Added | Document ID 293501: Cabinet Report MTFP Refresh Q1 July 2025 Final |
| 14/07/2025 16:08:22 | Bethany Lee | Report Added | Document ID 293503: Cabinet Report MTFP Refresh Q1 July 2025 Final |
| 14/07/2025 17:43:45 | Mandeep Marwaha | General Details Edited | |
Approval/Comments
No history found.