Decision - General Fund Budget Planning & Resource Update - 2026-27 to 2029-30

This report seeks agreement on the Budget assumptions and budget setting process for 2026/27

That Cabinet:

1)           Note the planning assumption of a Council Tax increase of 2.99% over the 4-year Medium-Term Financial Plan period and an Adult Social Care Precept of 2.00% or the equivalent in grant funding in 2026/27.

2)           Note the funding assumptions and net expenditure projections for 2026/27 including a projected budget shortfall of £39.765 million.

3)           Note the Medium-Term financial projections for 2026/27 to 2029/30 and the predicted budget gaps totalling over £95 million over the period.

4)           Agree the proposed budget development approach and that members will use this to develop 4-year medium-term service and financial plans and proposals for Budget Council consideration, including savings targets, to enable a legally balanced budget in 2026/27 and enable the Council Tax for the year to be set.

5)           Note that projections for next year and the Medium-Term Financial Plan (MTFP) will be updated following government funding announcements expected in Autumn 2025.