Decision details

Council Annual Budget Report 2024-25 and following years; incorporating Capital, Treasury Management, General Fund, Revenue and Housing Revenue Account

Decision Maker: Cabinet, Council

Decision status: Recommendations Approved

Is Key decision?: Yes

Is subject to call in?: No


To provide the necessary financial information to enable the Council’s Revenue Budget, Capital Programme & Housing Revenue Account to be set in accordance with agreed treasury management principles.


That the Motion be submitted to the Meeting of Council on 6 March 2024 with a recommendation that;


(i)             General Fund Revenue

-       the draft Revenue Budget for 2024-2025, as attached at Appendix F, be approved

-       the forecast spending and funding plans for the 2024-2027 period, as set out at Appendix F, be noted

-       the forecast levels of statutory and other council reserves, as set out at Appendix H, be noted

-       the strategy for the use of balances and reserves (paragraph 2.15 refers) be approved

-       the Council’s participation in the Leeds City Region Business Rates Pool for 2024-2054 be noted and that authority be delegated to the Chief Executive and Service Director (Finance), in consultation with the Leader and Cabinet Member (Finance), to agree the governance arrangements for 2024-2025, to be approved by the Business Rates Joint Committee (paragraph 2.20 refers)

-       it be noted that discussions regarding the uplifts on the rates paid to external providers for demand-led activities are ongoing, and that authority be delegated to the Strategic Director (Adults and Health) to agree the final uplifts to rates for 2024-2025 (paragraph 2.4.3 refers)

-       approval be given to the Council’s flexible capital receipts policy for 2024-2025 (paragraph 2.8 and Appendix E refer)

-       approval be given to the Council Tax requirement for 2024-2025 (Appendix N refers)

-       the Council’s Statutory 151 Officer’s positive assurance statement as to the robustness of the forecasts and estimates and adequacy of financial reserves be noted (paragraph 2.21 refers)

-       authority be delegated to the Council’s statutory s151 Officer to amend how the finally approved precepts are recorded in the Council’s revenue budget in line with the final notifications received following decisions by the West Yorkshire Mayor Police and Crime Commissioner, the Fire and Rescue Authority and the Parish Councils, should these be received after 6 March 2023 (paragraph 3.1.3 refers)


(ii)            Treasury Management

-       the borrowing strategy be approved (paragraphs 2.16 to 2.29 refer)  

-       the investment strategy be approved (paragraphs 2.30 to 2.38 and Appendices A and B refer)

-       the policy for provision of repayment of debt (minimum revenue provision) be approved (paragraphs 2.39 to 2.41, Appendix C refer)

-       the treasury management indicators be approved (Appendix D refers)

-       the investment strategy (non treasury investments) be approved (Appendix F refers)


(iii)          Capital

-       the updated Capital Plan 2023-2032 be approved (Appendix Kiii refers)

-       the Capital Strategy (including prudential indicators) be approved (Appendix K refers)


(iv)          Housing Revenue Account

-       the draft Housing Revenue Account Budget for 2024-2025 be approved (Appendix L refers)

-       the strategy for the use of the Housing Revenue Account reserves be approved (Appendix L refers)




Report author: Dean Langton

Publication date: 13/02/2024

Date of decision: 13/02/2024

Decided at meeting: 13/02/2024 - Cabinet

Accompanying Documents: