Medium Term Financial Strategy (MTFS) 2023/24 - 2027/28
Conclusion
The factors and assumptions outlined above result in a forecast gap of £55m driven mainly by Social Care demand pressures and additional inflationary costs.
Achieving sustainable finances represents a formidable challenge for the reasons outlined in this report and some tough choices will need to be taken to achieve long term sustainability. It is essential that the delivery of Council priorities and achievement of priority outcomes is linked to resource allocation in a sustainable way.
The Council has a strong track record of financial performance and will continue to use resources in the best possible way to help residents of the borough thrive. The medium-term financial plan of the Council will be kept under review to ensure that the financial context within which the Council operates is understood and informs decision making.