Medium Term Financial Strategy

The Medium Term Financial Strategy sets out the council's financial framework for five years. It outlines the main expenditure pressures and budget plans that will meet strategic aims while also demonstrating how this will be financed.

The plan is updated and rolled forward annually and is a key tool in the strategic financial planning framework.

Objectives:

• To set financially sustainable budgets
• To retain a balance of £3m in the General Revenue Reserve
• To ensure resources are directed to the council's strategic aims
• To consider and adapt to the prevailing financial climate
• To present to stakeholders indicative budgets and Council Tax levels for the medium term

The current Medium Term Financial Strategy is for the period 2024/25 - 2028/29.