Decision details
2024/25 Medium Term Financial Strategy
PDF 54 KBDecision Maker: Cabinet
Decision status: Approved
Is Key decision?: Yes
Is subject to call in?: Yes
Purpose:
The Medium Term Financial Strategy (MTFS) sets
out the strategic direction and priorities for the Council as well
as outlining the financial context and challenges the Council faces
over the next five years and the strategy that will be used to
inform its annual budget process.
Decision:
To approve the Medium Term Financial Strategy as set out in Appendix 1 of the report.
Reasons for the decision:
The Medium Term Financial Strategy (MTFS) provides a framework for strategic planning, articulating the organisation’s key aims and ambitions and guiding its activities with medium term budget setting and planning. This sets out the current financial challenge, strategic direction and financial priorities for the Council, as well as the financing mechanisms available to the Council to achieve this.
The Medium Term Financial Strategy is part of the preparation for the budget and Council Tax setting for 2024/25 that will be considered by this council in February 2024.
Alternative options considered:
The supporting paper outlines options for balancing future budgets.
Report author: Andy Rothery
Publication date: 10/11/2023
Date of decision: 09/11/2023
Decided at meeting: 09/11/2023 - Cabinet
Effective from: 18/11/2023
Accompanying Documents: