Decision details

Following a consultation on the budget, the report will 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.

RESOLVED -

1)    That the comments of the Overview and Scrutiny Management Committee, as outlined at section 5 of the considered report, be noted.

2)    That the Motion be submitted to the Meeting of Council on 5 March 2025 with a recommendation that;

(i)            General Fund Revenue

-       the Revenue Budget for 2025-2026, to deliver a balanced position, as attached at Appendix F, be approved

-       the forecast spending and funding plans for the 2025-2026 and 2026-2027 period, as set out at Appendix A, be noted.

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

-       the strategy for the use of balances and reserves (paragraph 2.18 refers) be approved

-       that the Council’s flexible capital receipts policy for 20252-2026, as set out at paragraph 2.25/Appendix G, be approved.

-       the Council tax requirement for 2025/2026, as set out at Appendix M, be approved.

-       the Council’s Statutory 151 Officer’s positive assurance statement as to the robustness of the forecasts and estimates and adequacy of financial reserves, as set out at paragraph 2.23, be noted.

-       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 5 March 2025 (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 2.40, Appendix C refers)

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

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

(iii)         Capital

-       the updated Capital Plan 2024-2032 be approved (Appendix F refers)

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

(iv)         Housing Revenue Account

-       the draft Housing Revenue Account Budget for 2025-2026 be approved (Appendix K refers)

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