RESOLVED:
(1) That Council agreed the adoption of the Medium-Term Financial Strategy for 2025-30, as attached at Appendix A.
(2) That Council noted that the development and implementation of savings proposals were needed by April 2026 in order to start addressing the forecast shortfall in 2026/27 onwards.
(3) That Council instructed the Executive Member for Finance and IT to prepare a range of feasible, quantified savings options including the increased use of shared services.
(4) That engagement would take place with the Opposition Group Leaders and Finance leads on the process and specific options for any public budget consultation by June 2025.
REASON FOR DECISIONS: Adoption of a MTFS and communication of its contents will assist in the process of forward planning the use of Council resources and in budget setting for 2025/2026 to 2029/2030, culminating in the setting of the Council Tax precept for 2025/26 in February 2025. Alongside the Council Plan, this will support the Council in setting a budget that is affordable and aligned to Council priorities.