Decision details

Financial Management 2022/23 to 2024/25 and Framework for Change 2020 - Medium-Term Financial Plan 2023/24 to 2024/25

Decision Maker: Cabinet, Council

Decision status: Recommendations Approved (subject to call-in)

Is Key decision?: Yes

Is subject to call in?: No


To provide an update on the Medium-Term Financial Plan for 2023/24 to 2024/25 and the financial issues currently facing the Council.


The Cabinet considered the report of the Executive Director of Corporate Resources which provided:


1.             An update to the Medium-Term Financial Plan (MTFP) for 2023/24 to 2025/26 taking account of all currently available information.


2.             The position in respect of the Council’s High Needs Budget, the commencement of the Delivering Better Value programme and within this, the need to reach an annual financially sustainable position. In addition, these plans will be shared with the Council’s External Auditor.


Decision Made:


That the report be noted, and the Council be recommended to approve the updated Medium-Term Financial Plan for 2023/24 to 2025/26 and any assumptions made.


Reasons for the Decision:


In March 2022, the Council approved a one-year budget plan for 2022/23. As part of the report, an indicative budget gap of £8.9m for 2023/24 to 2024/25 was reported, before any decisions are taken on the level of Council Tax. The MTFP for this period had subsequently been updated to reflect the latest information available and to reflect the ongoing service pressures the Council was facing. The MTFP period had also been extended by a further year to 2025/26 and the Council would continue to ensure resources are well managed and reflect the key priorities of the residents of Sefton.


Alternative Options Considered and Rejected:



Report author: Paul Reilly

Publication date: 09/11/2022

Date of decision: 03/11/2022

Decided at meeting: 03/11/2022 - Cabinet

Accompanying Documents: