Decision details

The Director summarised the position as set out in the report, explaining that the 2022/23 year had been challenging, ending with a small surplus due to delivery of £23million in savings.  Cabinet heard that the year end position for home to school transport was concerning for future forecasts and difficult to predict.  Trend analysis suggested an additional £18million pressure in 2024/25.

The Director explained a funding gap of £86million was anticipated for 2026/27, and that £89million of reserves had been identified to be set aside to support the budget and provide funding to deliver highways maintenance and the switch to digital due to the retirement of analogue.  Although the reserves had been earmarked for future capital investment, funding had not been committed so schemes will not need to stop, but that funding would not be available for future capital investment.

The Chairman expressed thanks to the Director and his team.  The recommendations in the report were considered and agreed. A decision record is attached to these minutes.