Agenda item

Pursuant to Cabinet Minute No. 10 (2023/2024) the Service Director – Finance submitted a report recommending the adoption  of a new Budget Strategy to enable the Council to achieve a balanced budget for 2024/2025 and over the term of the Medium-Term Financial Plan (MTFP) through 2027/2028.

RESOLVED –

1.    That the challenging financial operating context and the current Medium-Term Financial Plan gaps be noted.

2.    That the Budget Strategy and the five thematic interventions (paragraphs 4.24 to 4.45) be approved.

3.    That the proposal to move £1m of reserves from the Business Rates Reserve to the Budget Risk Reserve in 2023/2024 (paragraph 4.51) be approved.