Medium Term Financial Strategy - Update
(Reasons: Part 2 - Private: LGA 1972 - Sch 12A Paragraph 3 - Financial or business affairs of any particular person)
A report updating on the Medium Term Financial Strategy (MTFS) having regard to the latest financial issues. The MTFS will continue to be updated as the 2025/26 budget is prepared and therefore this should be treated as an interim update only.
Additional documents:
Decision:
(Reasons: LGA 1972 – Sch 12A Paragraph 3 – Financial or business affairs of any particular person)
The report provided an update on the Medium Term Financial Strategy (MTFS) having regard to the latest financial issues. The MTFS would continue to be updated as the 2025/26 budget was prepared and therefore the update was treated as an interim update only.
Cabinet had due regard to the legal implications, risk assessment, financial and value for money and policy considerations and noted the changes that had positively contributed to bridging the funding gap since the MTFS was approved by Council in February 2024. In addition, consideration was given to those areas identified causing the increase in the funding gap and to those areas of potential impact on future finances.
RESOLVED: That the current position on the Medium Term Financial Strategy (MTFS), and the areas identified causing the increase in the funding gap, be noted.