Decision details

RESOLVED 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 continuation of the current Local Council Tax Support Scheme (LCTSS) into 2025/26.

(d)           Request Portfolio Holders, Corporate Directors and Budget Holders bring forward the necessary additional savings, efficiencies and additional income proposals to enable the 2025/26 Budget to be balanced.

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 with reference to the ongoing conversation with DfE, MHCLG and CIPFA regarding the difficulties presented by the accumulating DSG deficit.