Issue - meetings
Test 3
Meeting: 16/10/2024 - Cabinet (Item 4.)
4. MEDIUM TERM FINANCIAL PLAN UPDATE AND BUDGET SETTING PROCESS FOR 2025/26 
PDF 195 KB
Division/Wards Affected: All
Purpose: To provide the latest six-monthly update of the Council’s medium term financial planning.
To set out an initial modelled budget shortfall for the financial year 2025/26 and to agree a budget setting process that will enable a balanced budget to be presented to Council in March 2025.
Author: Jonathan S. Davies Head of Finance (Acting Section 151 Officer)
Contact Details: jonathandavies2@monmouthshire.gov.uk
Additional documents:
- 20241016 Cabinet - MTFP update and budget process - Appendix 1 - MTFP update and BPF, item 4.
PDF 1008 KB
- 20241016 Cabinet - MTFP update and budget process - Appendix 2 - Budget timetable, item 4.
PDF 55 KB
Decision:
That Cabinet notes a modelled initial budget shortfall of £11.4 million to be addressed.
That Cabinet sets an expectation that the budget build for 2025/26 will recognise priorities set within the Community and Corporate Plan with reducing the impact of inequality on citizens and climate change on communities being central to all considerations.
That Cabinet adopts the budget planning framework and timetable outlined in Appendix 1 and 2.
That Cabinet note the current progress indicated against the Medium Term Financial Strategy delivery plan as outlined in Section 13 of Appendix 1.