Issue - meetings
One Medway Financial Improvement and Transformation Plan - Round 2 2026/26
Meeting: 18/11/2025 - Cabinet (Item 8)
8 One Medway Financial Improvement and Transformation Plan 2025-26 Q2 Update 
PDF 4 MB
Minutes:
Background:
The report presented a review of the Council’s One Medway Financial Improvement and Transformation Plan (FIT Plan) monitoring for Round 2 and should be read in conjunction with the Revenue Budget monitoring for this period. This was the second year of the Council’s journey to financial sustainability by producing and monitoring a FIT Plan.
The report set out that as of 21 October 2025, there had been FIT Plan savings of £4,939,745 and additional income of £12,145,077, which was 59.3% of the overall annual target of £28,817,000.
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Decision number: |
Decision: |
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The Cabinet noted the results of the second round of the Council’s One Medway Financial Improvement and Transformation Plan monitoring for 2025/26. |
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159/2025 |
The Cabinet instructed the Corporate Management Team to expedite any of the actions within the Council’s One Medway Financial Improvement and Transformation 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 regularly by the Council’s Corporate Management Team, 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.