Issue - meetings

Report of the Executive Director of Corporate Resources and Customer Services

Further to Minute No. 64 of the meeting of the Cabinet held on 7 September 2023, the Council considered the report of the Executive Director of Corporate Resources and Customer Services advising of:

1.             the update to the Medium-Term Financial Plan (MTFP) for 2024/25 to 2026/27 taking account of all currently available information.

2.             an update on other areas that informed financial decision making including the Council’s reserves position, its growth programme, its position on its wholly owned council companies and the High Needs budget as these were all interlinked with the MTFP.

The Cabinet had resolved (Minute No. 64) that:

(1)      the updated Medium-Term Financial Plan for 2024/25 to 2026/27 and any assumptions made, be noted; and

(2)      the Council be recommended to approve the updated Medium-Term Financial Plan for 2024/25 to 2026/27 and any assumptions made.

It was moved by Councillor Lappin, seconded by Councillor Fairclough and

RESOLVED:

That the updated Medium-Term Financial Plan for 2024/25 to 2026/27 and any assumptions made be approved.

Report of the Executive Director of Corporate Resources and Customer Services

The Cabinet considered the report of the Executive Director of Corporate Resources and Customer Services advising of:

1.             the update to the Medium-Term Financial Plan (MTFP) for 2024/25 to 2026/27 taking account of all currently available information.

2.             an update on other areas that informed financial decision making including the Council’s reserves position, its growth programme, its position on its wholly owned council companies and the High Needs budget as these were all interlinked with the MTFP.

Decisions Made:

That

(1)      the updated Medium-Term Financial Plan for 2024/25 to 2026/27 and any assumptions made, be noted;

the Council is recommended to: -

(2)      approve the updated Medium-Term Financial Plan for 2024/25 to 2026/27 and any assumptions made.

Reasons for the Decision:

In March 2023 the Council approved a one-year budget plan for 2023/24. As part of this report, an indicative budget gap of £18.5m for 2024/25 to 2025/26 was reported, before any decisions on the level of Council Tax. The MTFP for this period has subsequently been updated to reflect the latest information available and to reflect the ongoing service pressures the Council is facing. The MTFP period has also been extended by a further year to 2026/27. In approving the recommendation laid out in this report, the Council will continue to ensure resources are well managed and reflect the key priorities of the residents of Sefton.

Alternative Options Considered and Rejected:

Not Applicable.