Decision details

RESOLVED that Cabinet: -

(a)           Acknowledged the ongoing progress being made to address the funding gap for 2026/27;

(b)           Endorsed the latest position regarding the developing 2026/27 Budget and MTFP position;

(c)           Recognised the significant level of uncertainty at this time due to fluctuations in the predicted outcome of the governments Fair Funding Formula;

(d)           Approved the implementation of a restricted voluntary redundancy process to enable the delivery of 2026/27 savings from specific service-based restructures;

(e)           Requested Portfolio Holders, Corporate Directors and Budget Holders bring forward the necessary additional savings, efficiencies, additional income proposals and service adjustment proposals to enable the 2026/27 Budget to be legally balanced; and

(f)            Approved the continuation of the current Local Council Tax Support Scheme (LCTSS) for 2026/27.

Voting: Unanimous

Portfolio Holder: Finance

Reasons

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 2026/27 Budget and 3-year medium-term financial plan including any updates on the government’s proposals to return the SEND system to financial sustainability in 2025.