Issue - meetings
One Medway Financial Improvement and Transformation Plan Monitoring - Quarter 3 Update
Meeting: 11/02/2025 - Cabinet (Item 12)
12 Financial Improvement and Transformation (FIT) Plan Monitoring - Round 3 2024/25 
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Minutes:
Background:
The report provided the Cabinet with a review of the FIT Plan monitoring for Round 3 and was to be read in conjunction with the Revenue Budget monitoring report for this period (Agenda item 9).
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Decision:
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The Cabinet noted the results of the third round of FIT Plan monitoring for 2024/25. |
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19/2025 |
The Cabinet instructed the Corporate Management Team to expedite any of the actions within the FIT Plan, where failure to do so may adversely affect the budget position. |
Reasons:
Full Council is responsible for agreeing a balanced budget in advance of each financial year. Cabinet is responsible for ensuring that income and expenditure remain within the approved budget, including instructing transformation activities or corrective action to prevent any forecast overspend from materialising.
The FIT Plan, which is reviewed on a monthly basis at Corporate Management Team (CMT), is one of the key tools for ensuring delivery of savings in the current financial year and implementing a range of key actions to ensure the long-term financial sustainability of Medway Council.