Decision details

10.1

The Finance and Performance Policy Committee considered a report of the Director of Finance and Commercial Services which outlined the progress to date in delivering a balanced budget for 2025/26. The report set out the current budget gap along with the associated assumptions, risks and opportunities to be considered in setting a balanced budget.

10.2

RESOLVED UNANIMOUSLY: That the Finance and Performance Policy Committee: -

1. Note the current budget gap stands at £1.7m for 2025/26.

2. Note the budget gap will likely change following the publication of the Local Government Finance Settlement (LGFS) on or before the 19th December 2024.

3. Note the pressures, savings and investments proposals set out in the closed appendix 1 of this report.

4. Note for consideration the ongoing budget assumptions, financial risks and opportunities set out in the report that will play a role in determining the future actions required to balance the 2025/26 budget.

10.3

Reasons for Decision

10.3.1

N/A

10.4

Alternatives Considered and Rejected

10.4.1

The Council is required by law to deliver a balance budget and therefore each Committee needs to delivery savings to achieve this. No alternatives have been considered at this stage.