Issue - meetings

The purpose of this report is for Cabinet to receive information to enable them to recommend a budget to Council for Capital, General Fund revenue and Housing Revenue Account (HRA), and approve the Council Treasury Management strategy.

Ward:  All

Officer: Eamonn Croston, Service Director Finance, Tel: 01484 221000

That the Motion be submitted to the Meeting of Council on 13 February 2019 with a recommendation that;

(i)            General Fund Revenue

-          the draft Revenue Budget 2019-2022 be approved, as attached at

Appendix A

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

-          the strategy for the use of balances and reserves be approved

(paragraph 2.15 refers)

-          a further reassessment of reserves requirements be undertaken at year end and reported to Members as part of the 2018-2019 financial outturn and rollover report (paragraph 2.15.20 refers)

-          the Council’s continued participation in the North and West Yorkshire business rates pool for 2019-2020 be noted and that approval be given in principal to the new arrangements for the 2019-2020 pool, as set out at Appendix K, with authority being delegated to the Monitoring Officer, in conjunction with the Service Director (Finance), to finalise the new arrangements with the City Solicitor of Leeds City Council (paragraph 2.4.8 refers)

-          the Flexible Capital Receipts Strategy for 2019-2020 be re-affirmed (Appendix I refers)

-          the Council Tax requirement for 2019-2020 be approved (Appendix I refers)

-          the Council’s Statutory S151 Officer’s positive assurance statement be noted (paragraphs 3.3.1 – 3.3.20 refer)

-          the Council’s Statutory S151 Officer be given delegated authority 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 and Crime Commissioner, the Fire and Rescue Authority and Parish Councils, should these be received after 13 February 2019 (paragraph 3.1.3 refers)

(ii)          Treasury Management

-          the borrowing strategy be approved (paragraphs 2.15-2.21 refer)

-          the investment strategy be approved (paragraphs 2.22-2.32 refer)

-          the policy for provision of repayment of debt (minimum revenue provision/MPR) be approved (appendix C refers, reflecting the changes in policy outlined in paragraphs 2.33-2.37)

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

-          the Investment Strategy (non-treasury investments) (Appendix E refers) be approved

(iii)         Capital

-          the updated Capital Plan 2018-2024 be approved (Appendix A)

-          the Capital Strategy (including Prudential Indicators), as detailed at Appendix G, be approved

(iv)         Housing Revenue Account

-          the draft Housing Revenue Account Budget for 2019-2022 be approved (appendix A refers)

-          the strategy for the use of the Housing Revenue Account reserves, as set out at paragraph 2.18.4, be approved