Decision details

It is RECOMMENDED that Cabinet:

(a)            Acknowledges the ongoing progress being made to maintain a balanced budget position for 2025/26 and MTFP.

(b)           Endorses the latest position regarding the developing 2025/26 Budget and MTFP position.

(c)            Approve the implementation of a targeted voluntary redundancy process to enable the delivery of 2025/26 savings with delegation to the Chief Executive, in consultation with the Leader of the Council, to develop an appropriate policy.

(d)           Notes the update on the conversation with government around the impact that the DSG deficit is having on the financial sustainability of the council.

(e)            With local MP support, continue to express concern to government at the existential challenge to the Councils ability to set a legally balanced budget for 2025/26 posed by having the lack of cash to fund the special educational needs and disability service (SEND).

Voting: Unanimous

Portfolio Holder: Finance

Reason

To comply with accounting codes of practice and best practice which requires councils to have a rolling multi-year medium term financial plan.

To provide Cabinet with the latest high-level overview of the development of the 2025/26 Budget and 3-year medium-term financial plan.

To provide an update on the 22 May 2024 letter submitted to DLUHC and CIPFA regarding the difficulties presented by the accumulating DSG deficit.