Decision
Analysis
outcome: The Cabinet approved the updates and amendments to reflect the latest financial position.
summary: The decision involves approving updates to the Council's Medium Term Financial Strategy and Budget Strategy for the upcoming years.
topline: The Cabinet has decided to approve updates to the Council's financial strategies for the upcoming years.
reason_contentious: This issue may be contentious as it involves potential budget cuts or changes in financial strategy which could impact various services and stakeholders.
affected_stakeholders: ["Council staff", "Local residents", "Service users"]
contentiousness_score: 6
political_party_relevance: There may be implications of political influence as decisions on budget allocations can be politically charged.
URL: https://modgov.lbbd.gov.uk/internet/ieDecisionDetails.aspx?ID=4288
Decision Maker: Cabinet
Outcome: Approved
Is Key Decision?: Yes
Is Callable In?: Yes
Purpose: The Cabinet will be presented with an update on the Council’s MTFS for 2024/25 to 2026/27 and the Budget Strategy 2025-26, and will be asked to approve any appropriate updates or amendments to reflect the latest position.
Content: The Cabinet will be presented with an update on the Council’s MTFS for 2024/25 to 2026/27 and the Budget Strategy 2025-26, and will be asked to approve any appropriate updates or amendments to reflect the latest position. Cabinet resolved to: (i) Note the latest MTFS projections and forecast budget gap for 2025/26 of £25.9m; (ii) Note the assumptions set out in the report underlying those forecasts as well as the financial risks and uncertainties; (iii) Note the outline budget setting timetable for 2025/26 as set out in section 10 of the report; and (iv) Approve the Budget Strategy and approach to setting the 2025/26 budget as set out in section 9 of the report.
Date of Decision: July 23, 2024