Decision details

2.1 It is recommended that the Executive Board:-

a) note the key risks to the delivery of the budget in 2024/25 and that these will be subject to consideration as part of the regular Budget Monitoring reports submitted to the Executive Board;

b) note the uncertainty with the funding outlook for the Council, not least the limited progress on Local Government Finance reforms and that these will not now take place before the next General Election;

c) note the update to the Medium Term Financial Plan for 2025/28 as shown at Appendix A and that a further update will be provided in October 2024;

d) note the scenario analysis shown at Appendix D and E which models ‘worst’/’best’ case scenarios around the baseline MTFP as part of the assessment of potential risks facing the Council;

e) note the timetable set out in the report for the development of the Council’s Budget for 2025/26;

f) agree that all Portfolio Holders instigate a review of all fees and charges in their Portfolios, in line with the agreed Fees and Charges Framework, with a view to maximising the amount of income received by the Council;

g) request that Lead Officers for Portfolios/Directorates be asked to identify and bring forward budget savings options for 2025/26;

h) agree that, subject to consideration by respective Portfolio Holders, any budget proposals arising from the work above be considered by the Executive Board in due course (and subject to the proposal on consultation below);

i) as part of a process of identifying savings options over the medium term, agree to commission external advisors to support the development of strategic business cases and that a budget of £350k, funded from the Invest to Save Reserve, be agreed for this;

j) subject to the work above and agreement with Councillors, agree that some form of public and business-based consultation on the budget savings proposals should take place over Autumn 2024 with a view to informing decisions on the Council’s budget for 2025/26.