Issue - meetings

To receive an update on the development of the MTFS 2025-29, which will be approved at full Council in February 2025.

The committee considered the report which set out progress on the development of the 2025-29 Medium-Term Financial Strategy. The committee noted that significant work had been undertaken to capture all the proposed budget changes for 2025-26 and over the medium-term, both from the transformation programme work and wider. A number of budget changes had been put forward however, to date, these did not go far enough to balance the budget for 2025-26.

Members noted the key headlines following the October 2024 budget announcements. Members felt it was important to be presented with both ‘worst’ and ‘best’ case scenarios in readiness for the local government settlement announcements in December, and that contingency planning was essential.

The committee noted that additional funding had been announced in the budget for local authorities for areas including SEND, Household Support Fund and resource funding for homelessness pressures. Cheshire East’s allocation of the additional funding was not yet known however the committee noted that allocation based on a deprivation model was unlikely to assist Cheshire East and suggested that this was raised with MHCLG colleagues, as it would not be a true reflection of the needs of the wider borough. 

RESOLVED:

That the Finance Sub Committee

1.    Note the progress to date on the development of the MTFS 2025-29.

2.    Note that officers will continue to challenge draft proposals and develop further proposals in consultation with Members prior to approval by Full  Council.

3.    Note that Committees will be presented with the opportunity to review the full set of financial proposals, designed to achieve a balanced budget, as part of their January cycle of meetings prior to recommendations being made to Council for approval.