Decision details

In noting the financial position at the year-end for the authority, a decision will be required as to the treatment of any variation identified.

The Deputy Chief Executive submitted a report presenting the Council’s financial outturn position for 2013/2014 for both revenue and capital elements,

whilst also outlining details regarding Housing Revenue Account and spending on schools. In addition, the report also highlighted the latest position regarding other key financial health indicators including Council Tax and NNDR collection statistics, sundry income, reserves and the prompt payment of creditors.

With regard to proposals detailed within the report regarding the creation of earmarked reserves, specifically in respect off the Leeds Grand Theatre, Members welcomed that a dedicated report was scheduled to be submitted to the 16^th July 2014 Board meeting. It was also requested that both Councillors A Carter and Golton received respective briefings on the current position regarding Leeds Grand Theatre.

In conclusion, the Chair paid tribute to all officers concerned for their continued efforts which had led to the Council’s final outturn position for the 2013/14 financial year.

RESOLVED –

(a)  That the outturn position as detailed within the submitted report be noted, and that the creation of earmarked reserves as detailed in paragraphs 3.8 and 5.5 be agreed, with the release of such earmarked reserves being delegated to the Deputy Chief Executive;

(b)  That a virement in 2014/15 from directorate superannuation budgets to general fund reserves, as detailed in paragraph 5.4 of the submitted report, be agreed;

(c)  That it be noted that the Chief Officer Financial Services will be responsible for the implementation of the resolutions detailed above, following the “call in” period.

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