Decision details

That the report be submitted to the meeting of Council on 17 February 2016 with the following recommendations;

(1) Capital

(i) That the Capital Investment Plan be approved as an integral element of the

Council’s Budget Strategy to support Council priorities (on both capital and revenue budget proposals) and be contained within foreseeable resources (Appendix A, Section 1 and Appendix E refer).

(ii) That the Council should be advised to determine the Prudential Indicators as referred to in Appendix A (Section 1, paras 1.3.17-1.3.19) and again in Appendix F.

(2) Treasury Management

(i) That the borrowing strategy as outlined in Appendix A, Section 2, para 2.3, be approved.

(ii) That the investment strategy outlined in Appendix A Section 2, para 2.4, and Appendix G, be approved.

(iii) That the policy for provision of repayment of debt outlined in Appendix I, be Approved.

(3) General Fund Revenue

(i) That the Revenue Budget for 2016-19 as set out in Appendix B be approved.

(ii) That the strategy for the use of balances and reserves, as set out in Appendix A, (Section 3, para 3.16.2) be reaffirmed.

(iii) That it be acknowledged that for 2016-17 the minimum level of General Fund balances should be £5.0m (Appendix A, Section 3, para 3.16.3 refers)

(iv) That the estimated general and earmarked reserves be maintained, and that a further reassessment of reserves requirements be undertaken at year end and reported to members as part of the 2015-16 revenue rollover and outturn report; (Appendix A, Section 3 , para 3.16.5 refers)

(v) That the Council Tax requirement for 2016-17 (as detailed in Appendix A,

Section 3, para 3.14.1 and Appendix C; budget motion) be approved.

(vi) That the Council’s continued participation on the Leeds City Region business rates pool for 2016-17 be noted (Appendix A, Section 3, para 3.13.5 refers).

(vii) That Council be recommended to give consideration as to whether the rollover rules for the 2015-16 financial year should be changed.

(viii) That the Council’s Pay Policy Statement for 2016-17, as detailed in Appendix D (i-v), be approved.

(ix) That the Director of Resources’ positive assurance statement be noted.

(x) That authority be delegated to the Director of Resources 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 Office of Police & Crime Commissioner, the Fire & Rescue Authority and Parish Councils should these be received after 17th February 2016.

(xi) That the high level forecast financial position in relation to 2019-20, as contained within the submitted report, be received, with a view to proposals being formulated over the forthcoming period to achieve a balanced general fund budget.

(5) Housing Revenue Account (HRA)

(i) That the Housing Revenue Account Budget 2016-19 be approved (Appendix B refers).

(ii) That the high level forecast financial position, as contained within the submitted report, be received, with a view to proposals being formulated over the forthcoming period to achieve a balanced Housing Revenue Account at the same time as maintaining the decent homes standard.

(iii) That the strategy for the use HRA reserves, as set out in Appendix A, Section 4, para 4.3.2, be reaffirmed.

(6) The considered report is referred to Council as advice and background information, upon which the other political groups can base their budget proposals.

(7) That unspent resources within District Committee budgets (including any capital allocations remaining from the old Area Committees and unspent HRA capital budgets managed through District Committees) be rolled over into 2016-17.

(8) That, to assist District Committees in spending their allocations for 2016/17, Cabinet will issue guidance prior to the start of the financial year, with a report to be brought back for consideration at Cabinet to facilitate this in March 2016.