Issue - meetings

This report recommends budget targets for 2026/27 and provides an update on financial planning for 2027/28 to 2028/29 as recommended by Financial Strategy Advisory Group.

Following consideration, the Committee unanimously resolved:

(1)           To accept the recommendations of Financial Strategy Advisory Group held on 27 June 2025 as set out in Appendix 1 to the report, and ;

(2)           Agree the amendment to the Medium-Term Financial Strategy position and note the budget gap for the relevant years as set out in table 4.2 in Appendix 2 to the report.

(3)           Agree the proposed Medium-Term Financial Strategy is in line with council priorities, prudent and sets a framework for a strong financial control.

(4)           To recommend to Full Council the proposed changes to the General Fund unallocated reserve levels set out in section 4.13 of Appendix 3 to the report.

The Committee received a report recommending budget targets for 2026/27 and providing an update on financial planning for 2027/28 to 2028/29 as recommended by the Financial Strategy Advisory Group.

The following matters were considered:

a)             Benchmarking. In response to a question from a Member, the Director of Corporate Services and S151 Officer informed the Committee that data from Spelthorne Borough Council had been omitted from the benchmarking data provided within the report due to the significant variance between its data and that of the other authorities within the County (a reported useable reserve of 431%).

Following consideration, the Committee unanimously resolved:

(1)           To accept the recommendations of Financial Strategy Advisory Group held on 27 June 2025 as set out in Appendix 1 to the report, and;

(2)           Agree the amendment to the Medium-Term Financial Strategy position and note the budget gap for the relevant years as set out in table 4.2 in Appendix 2 to the report.

(3)           Agree the proposed Medium-Term Financial Strategy is in line with council priorities, prudent and sets a framework for a strong financial control.

(4)           To recommend to Full Council the proposed changes to the General Fund unallocated reserve levels set out in section 4.13 of Appendix 3 to the report.