Issue - meetings

This report:

·       Presents an update on Local Government Funding Reforms and the government Spring Statement.

·       Aims to ensure the council presents a legally balanced 2026/27 budget. 

·       Proposes a budget planning process and timeline for key financial reports.

·       Proposes a financial strategy to support the delivery of a robust and financially sustainable budget for 2026/27.  

RESOLVED that Cabinet: -

(a)           approved the budget timetable and process as set out in Appendix B; 

(b)           endorsed the scenario planning exercise that guides the potential level of activity that may now be needed to present a legally balance budget for 2026/27; and

(c)           approved the financial strategy designed to support the ongoing delivery of a balanced 2026/27 Budget and MTFP as set out in Appendix C.

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 comply with the Councils Constitution and the requirement to have as a minimum a 3-year Medium Term Financial Plan

To provide Cabinet with the latest high-level overview of the medium-term financial plan.

To present a proposed financial strategy to support the ongoing delivery of a balanced budget for 2026/27

The Portfolio Holder for Finance presented a report, a copy of which had been circulated to each Member and a copy of which appears as Appendix 'A' to these Minutes in the Minute Book.

Cabinet was advised that the report:

·      Presented an update on Local Government Funding Reforms and the government Spring Statement.

·      Aimed to ensure the council presents a legally balanced 2026/27 budget. 

·      Proposed a budget planning process and timeline for key financial reports; and

·       Proposed a financial strategy to support the delivery of a robust and financially sustainable budget for 2026/27. 

The Chair of the Overview and Scrutiny Board, Councillor Salmon addressed the Cabinet advising that at the meeting the previous evening the Board following a wide-ranging debate around the item, particularly in respect of the dedicated schools grant (DSG) had supported the recommendations within the report.

The Chair of the Health and Adults Overview & Scrutiny Committee, Councillor Canavan addressed the Cabinet in relation to the scrutiny work which had taken place on the budget. In relation to this Councillor Canavan advised that whilst it had been useful there had been a discussion recently with the Scrutiny Chairs on ways in which budget scrutiny could be carried out differently and the way in which work is prioritised in the future.

A number of Cabinet members spoke on the report highlighting the importance of having the right support from national government particularly with regards to the Dedicated Schools Grant.

RESOLVED that Cabinet: -

(a)           approved the budget timetable and process as set out in Appendix B; 

(b)           endorsed the scenario planning exercise that guides the potential level of activity that may now be needed to present a legally balance budget for 2026/27; and

(c)           approved the financial strategy designed to support the ongoing delivery of a balanced 2026/27 Budget and MTFP as set out in Appendix C.

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 comply with the Councils Constitution and the requirement to have as a minimum a 3-year Medium Term Financial Plan

To provide Cabinet with the latest high-level overview of the medium-term financial plan.

To present a proposed financial strategy to support the ongoing delivery of a balanced budget for 2026/27