Issue - meetings

That Cabinet recommends to the Full Council on 7 March 2024, for approval, the 2024/25 to 2027/28 Medium Term Financial Plan (MTFP).

The Business Manager – Financial Services presented a report detailing the Council’s Medium Term Financial Plan (MTFP) for the four financial years for 2024/25 to 2027/28.  A copy of the MTFP was attached as an appendix to the report.

The MTFP provided Members and Officers with a clear financial framework for delivering the Council’s Community Plan objectives over the plan period and maintaining the Council’s MTFP was an essential pre-requisite to the annual budget setting process for future years.

The MTFP showed that the Council was able to set a balanced budget for 2024/25, though would need to reduce expenditure and/or increase income to pay for service delivery in future years.

AGREED (with 8 votes for and 1 abstention) that Cabinet recommends to the Full Council on 7 March 2024, for approval, the 2024/25 to 2027/28 Medium Term Financial Plan. .

Reasons for Decision:

To provide a framework to support the Council’s future spending plans.

Options Considered:

Not applicable, the MTFP is an essential element in the Council’s financial framework.