Decision details

a)    That the comments of the Scrutiny Commission be noted;

b)    That the significant financial challenges faced by the County Council be noted;

c)    That the Period 4 monitoring position from the current financial year be noted;

d)    That the proposed approach outlined in the report to updating the Medium Term Financial Strategy (MTFS), be approved;

e)    That the revised Capital Programme for 2025/26 to 2028/29 as set out in Appendix C to the report be approved;

f)      That additional investment in bank risk sharing product (capital release funds) in line with the Council’s approved Treasury Management Strategy, up to a maximum investment of £20m at any one time, be approved;

g)    That the membership of the Investing in Leicestershire Programme Board be extended to include all members of the Cabinet.

(KEY DECISION)

REASONS FOR DECISION:

To inform the Cabinet of the revenue monitoring position for the current year, as at Period 4.

The revised capital programme for 2025-29 requires amendment as a result of the latest forecast financial position.

To seek approval for the intended approach to the development of plans to update the MTFS for 2026-30.

To approve additional treasury management investments in a bank risk sharing product (capital release funds), up to a maximum of £20m at any one time, in line with the Council’s approved Treasury Management Strategy. An investment of £12m is currently held which is returning capital.

The Cabinet has previously agreed the Terms of Reference of the Investing in Leicestershire Programme Board.