Decision details

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.

RESOLVED - That the Motion be submitted to the Meeting of Council on 8 March 2023 with a recommendation that;

(i)             General Fund Revenue

-       the draft Revenue Budget for 2023-2024, as attached at Appendix A, be approved

-       the forecast spending and funding plans for the 2024-2028 period, as set out at Appendix A, be noted

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

-       the strategy for the use of balances and reserves (paragraph 2.16 refers) be approved

-       the Council’s participation in the Leeds City Region Business Rates Pool for 2023-2024 be noted and that authority be delegated to the Chief Executive and Service Director (Finance), in consultation with the Leader and Cabinet Member (Corporate Services), to agree the governance arrangements for 2023-2024, to be approved by the Business Rates Joint Committee (paragraph 2.6.4 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 2023-2024 (paragraph 2.10.3 refers)

-       the Council’s anticipated Housing Support Fund Round 4 allocation, and Council Tax Support Fund for 2023-2024 be noted, and that authority be delegated to the Strategic Director (Corporate Strategy, Commissioning and Public Health), in consultation with the Cabinet Member (Corporate Services), the Cabinet Member (Learning, Aspiration and Communities) and Service Director (Finance) to agree the mechanism for how the funding will be used (paragraph 2.13.7 refers)

-       approval be given to the Council’s flexible capital receipts policy for 2022-2023 and 2023-2024 (paragraphs 2.14.8 to 2.14.11 and Appendix E refer)

-       approval be given to the Council Tax requirement for 2023-2024 (Appendix H 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 (paragraphs 3.3.1 to 3.3.16 refer)

-       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 8 March 2023 (paragraph 3.1.3 refers)

(ii)            Treasury Management

-       the borrowing strategy be approved (paragraphs 2.17 to 2.26 of Appendix I refer)  

-       the investment strategy be approved (paragraphs 2.27 to 2.35 of Appendix I, Appendices A and B refer)

-       the policy for provision of repayment of debt (minimum revenue provision) be approved (paragraphs 2.36 to 2.39 of Appendix I and Appendix C refer)

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

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

(iii)          Capital

-       the updated Capital Plan 2022-2028 be approved (Appendix A refers)

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

(iv)          Housing Revenue Account

-       the draft Housing Revenue Account Budget for 2023-2024 be approved (Appendix A refers)

-       the strategy for the use of the Housing Revenue Account reserves be approved (paragraph 2.18.6 refers)