Issue - meetings

To consider the report of the Head of Finance, Procurement & Commercial Services.

(Relevant Portfolio Holder: Councillor A Yates)

Councillor Yates introduced the report of the Head of Finance, Procurement & Commercial Services, which set out the updated Medium-Term Financial Forecast (MTFF) for 2023/24 to 2025/26, the latest forecast budget gap for the three years of £1.505m, comprising £0m in 2023/24, £0.751m in 2024/25 and £1.504m in 2025/26.

The report detailed the reserves position as at 31 March 2022 and forecast to

2025/26 and set out the annual budget setting process for 2023/24.

The Portfolio Holder advised that given the unavoidable delay in the preparation of reports, consideration of the budget items had not been undertaken by the Budget/Council Plan Committee or Executive Overview & Scrutiny Committee.  He suggested that this report and the Capital Programme report should be referred to a Special Executive Overview & Scrutiny Committee prior to Council on 22 February 2023.

In reaching the decision below, Cabinet considered the above comments of the Portfolio Holder, report before it and the recommendations contained therein.

RESOLVED:   A.     That the latest Medium-Term Financial Forecast (MTFF) for 2023/24 to 2025/26 be noted.

B.     That the latest reserves position as at 31 March 2022 and forecast to 2025/26 be noted.

C.     That the annual budget setting process for 2023/24 be noted.

D.     That the Draft GRA Budget Report and MTFS Update 23-24 be considered at a special meeting of Executive Overview & Scrutiny Committee, prior to full Council on 22 February 2023.