Lead Member – Councillor Gwilym Butler, Portfolio Holder for Finance, Corporate Resources and Communities

Lead Officer - Ben Jay

REPORT TO FOLLOW

RESOLVED:

That:

1.     Cabinet endorsed the work undertaken through the collaborative budget process and considers the proposed amendments and assumptions made since receiving the October MTFS update.

2.     Cabinet agreed the themed savings areas for public consultation further to cross-party discussion on the details to be taken forward as part of the budget consultation process.

3.     An updated MTFS (following receipt of the provisional local government financial settlement) is provided to Cabinet in January 2025, incorporating the results of the LGFS.

The Portfolio Holder for Finance, Corporate Resources and Communities presented the report, highlighting the challenges in predicting future financial settlements, including the potential for a 12-month settlement followed by a three-year settlement.

Members noted that the council was awaiting settlement figures, expected around December 16th, which will be incorporated into the financial strategy. Public consultation on savings areas was ongoing, and the updated financial strategy would be brought back to Cabinet in January.

It was confirmed that the period 7 figures would be circulated to members before Christmas.

RESOLVED:

That:

1.     Cabinet endorsed the work undertaken through the collaborative budget process and considers the proposed amendments and assumptions made since receiving the October MTFS update.

2.     Cabinet agreed the themed savings areas for public consultation further to cross-party discussion on the details to be taken forward as part of the budget consultation process.

3.     An updated MTFS (following receipt of the provisional local government financial settlement) is provided to Cabinet in January 2025, incorporating the results of the LGFS.