Medium Term Financial Strategy Assumptions and Reporting Cycle for 2027/28 to 2031/32
Decision Maker: Cabinet
Decision status: Recommendations Approved
Is Key decision?: No
Is subject to call in?: Yes
Purpose:
To set out the current financial assumptions
underpinning the four year MTFS that was approved at full Council
in February 2026. The report will allow members to review and
comment on the assumptions for the coming MTFS period
2027-31.
Decisions:
Cabinet considered the report setting out the baseline financial assumptions, key principles and timetable to support the development of the Medium-Term Financial Strategy (MTFS).
Members noted the ongoing financial challenges facing the Council, including a forecasted funding shortfall of £15.271m for 2027/28 and continued reliance on savings, transformation activity and strong budget management to achieve financial sustainability and reduce dependence on Exceptional Financial Support.
RESOLVED (unanimously):
That the Cabinet
1. Note the predicted shortfall for 2027/28 and the requirement to close the financial gap to remove the Council from a reliance on Exceptional Financial Support.
2. Note the budget assumptions underpinning the Medium-Term Financial Strategy for 2027/28 - 2031/32, for planning purposes (Table 2 of the report).
3. Note the high level MTFS timeline for setting the 2027/28 budget as set out in Table 3 of the report.
4. Approve the approach for residents and stakeholder engagement beginning in August 2026.
Report author: Tracy Baldwin
Publication date: 14/07/2026
Date of decision: 02/07/2026
Decided at meeting: 02/07/2026 - Cabinet
Effective from: 14/07/2026
Accompanying Documents:
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