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

Lead Officer – Ben Jay

REPORT TO FOLLOW

RESOLVED:

1.      That Cabinet noted:

i.               The alignment of this report with other reports on this agenda, including the Fees and Charges proposals, the proposed Capital Strategy, and the proposed Treasury Strategy; also the alignment to the position reported for the current financial year, set out in the Q3 Financial report and the Q3 Treasury Management report.

ii.             The analysis of the financial position of the council set out in this report and confirmed the alignment of the new proposals to the outline of the necessary actions for 2025/26 already set out in the December update to the MTFS.

iii.            The proposed spending reductions for 2025/26.

iv.           The proposed capital investment programme including the commentary on priority schemes and updates to possible future scenarios for the North West Relief Road

v.             The levels of reserves in recent years, the forecast levels of reserves at the end of the current year, and the plans set out to ensure the adequacy of the reserves in future years.

vi.           The approach of combined spending reductions and replenishment of general reserves.

2.      That Cabinet continues to work with the Collaborative Budget group to recommend to Council Approval of the budget proposals, including revenue and capital budgets, and the associated strategies, subject to further amendments required by Cabinet, or identified as necessary by the Chief Finance Officer (“CFO”).

3.      That Cabinet delegate to the Chief Executive acceptance of the PSDS Phase 4 grant and conclusion of necessary agreements for this. This can then be included in the Capital Programme for Council. (Set out in section 8.)