Agenda, decisions and draft minutes

To confirm as a correct record the Minutes of the meeting held on 3^rd September 2024 (previously circulated).

The minutes of the meeting on 3^rd September were approved as an accurate record.

No apologies for absence were received.

Up to thirty minutes will be made available for questions from members of the public on issues relating to the work of the Cabinet and to receive any petitions.

No public questions or petitions were received.

Report of the Executive Director (Finance and Transformation) on the status of actions agreed at the last Cabinet meeting.

Cabinet noted the Action Status report.

No notifications for urgent business were received.

To note declarations of Members’ disclosable pecuniary interests, non-disclosable pecuniary interests and non-pecuniary interests in respect of items on the Agenda.

No declarations of interest were received.

To consider the following items for decision in the current Forward Plan:-

The following item was considered from the Council’s Forward Plan:

The following item was considered from the Council’s Forward Plan:

To receive a report of the Executive Director (Finance & Transformation).

Decision taken

The Cabinet:

1.    Noted the contents of the report

2.    Approved the principles to be adopted for the 2025/26 budget setting process as highlighted in the report, in particular the 2025/26 budget setting process should focus on closing the indicative budget gap.

3.    Agreed to delegate authority to the Executive Director (Finance and Transformation), in consultation with the Executive Member for Resources, to submit an application for the 2025/26 Business Rates Pooling arrangement for Hertfordshire, if after full consideration, there is a financial case for doing so.

Reason for decision

The report provided an update to the Medium-Term Finacial Forecast based on Quarter 1 Budget Monitoring Reports. It was highlighted that a number of the variances would be ongoing, and have added additional pressures in the future such as the crematorium income and housing benefit subsidy.

Cabinet received a report from the Executive Director (Finance and Transformation) on the review of the Council’s Medium-Term Financial Strategy.

During the discussion, officers were thanked for their work on a difficult budget setting process.

Decision taken

The Cabinet:

1.    Noted the contents of the report

2.    Approved the principles to be adopted for the 2025/26 budget setting process as highlighted in the report, in particular the 2025/26 budget setting process should focus on closing the indicative budget gap.

3.    Agreed to delegate authority to the Executive Director (Finance and Transformation), in consultation with the Executive Member for Resources, to submit an application for the 2025/26 Business Rates Pooling arrangement for Hertfordshire, if after full consideration, there is a financial case for doing so.

Reason for decision

The report provided an update to the Medium-Term Finacial Forecast based on Quarter 1 Budget Monitoring Reports. It was highlighted that a number of the variances would be ongoing, and have added additional pressures in the future such as the crematorium income and housing benefit subsidy.

There were no items of urgent business.