Decision details

Following consideration of the officer report and discussion, the Executive approved the Medium-Term Financial Strategy (MTFS) for 2024/25 to 2026/27 and the approach for the medium term of the following proposals:

·       An early review of 17 key areas that are the main building blocks of the budget and financial framework

·       A three-year approach and framework for balancing the budget to develop the Service Budget Options

·       Reviewing and challenging all MTFP assumptions

·       A review of the capital programme

·       The criteria for any new scheme;

And the Executive noted:

·       That the reserves position for the Somerset Council has not yet been completed pending finalisation of all five authorities Statement of Accounts.