Decision details

Consideration was given to the report of the Director of Finance and Corporate Resources, as contained on pages 89 to 94 of the Book of Reports, which provided an update on the Medium Term Financial Strategy, (MTFS), savings proposals and 2025/26 budgets.

RESOLVED:

A.    That the contents of the report be noted.

B.    That it be noted, that Table One of the report details the savings that have been implemented by officers under delegated authority so far, leaving a MTFS balance still to be agreed of around £1,234k in 2025/26 and £807k in 2026/27.

C.    That it be noted, that in Table One, there are two separate reports on the agenda for this meeting, seeking member approval and if approved they will deliver a further combined saving of £83k per annum from 2026/27.

D.    That it be noted, that in Table One, there remains an existing MTFS gap of £1,181k in 2025/26 and £724k in 2026/27 to implement savings against.

E.    That it be noted, that in paragraph 3.3 of the report, the 2024/25 in-year Q2 there is a budget pressure of £1.45m and that much of this will carry through into 2025/26, thus requiring a further round of savings.