Decision details

To consider the financial planning framework for consideration of forthcoming budget proposals and plans, informed by updated forward spend and funding forecasts.

RESOLVED - That the report be referred to the meeting of Council on 7 September 2022 with a recommendation that;

1)    The funding and spend assumptions informing the updated budget forecasts as set out in the report, including the minimum usable reserve requirement advised by the S151 officer, being £47m (para 2.2.7 refers), and the budget gap figures (para 1.3.9 refers), be noted.

2)    That the current and forecast earmarked reserves and general balances as set out at Appendix A be noted.

3)    That approval be given to the financial planning framework (section 1.3 refers) for the general fund revenue and Housing Revenue Account (section 1.9 refers).

4)    That approval be given to the financial planning framework for general fund and HRA capital (section 1.10 refers).

5)    That the corporate budget timetable, as set out at Appendix D to the report, refers.

6)    That authority be delegated to the Chief Executive and Leader of the Council, in consultation with the Director of Finance and Corporate portfolio holder, to consider expression of interest to continue to participate in the Leeds City Region business rate pool for 2023/2024, by the Government deadline of 22 September 2022.

7)    That authority be delegated to the Strategic Director (Environment and Climate Change) in consultation with the Cabinet Member (Corporate Services), the Service Director (Finance) and the Service Director (Legal, Governance and Commissioning), to conclude contract negotiations and, on behalf of the Council, enter into a new contractual arrangement in a timely manner for Council electricity supplies either directly or through a preferred broker, from 1 April 2023 onwards. (Delegated authority is requested to (i) re-procure the Council’s electricity supply contract via a call off from a framework from an established central purchasing body and (ii) grant authority to award a contract for the Council’s electricity supply from April 2023).

8)    That authority be delegated to the Strategic Director (Corporate Strategy, Commissioning and Public Health) to agree the approach to budget consultation and relevant timescales in consultation with the Cabinet Member (Corporate Services).