Agenda item

(a). Leeds City Council Revenue Budget 2010/2011

To consider a report on the proposals for the City Council’s Revenue Budget for 2010/11, the Leeds element of the Council Tax to be levied in 2010/11 and the Council House rents for 2010/11.

(b). Capital Programme 2009-2013

To consider the report of the Director of Resources on the Capital Programme 2009-2013.

(c). Treasury Management Policy and Strategy Statements 2010/2011

To consider a report on the Treasury Management Policy and Strategy for 2010/11.

(Budget Papers are contained within a separate pack attached to this agenda)

(A)  Revenue Budget 2010/11 and Council Tax 2010/11

The Director of Resources submitted a report on the proposals for the City Council’s Revenue Budget for 2010/11, on the Leeds element of the Council Tax to be levied in 2010/11 and the Council House rents for 2010/11. In presenting the report the Director indicated that the final determination in respect of the Housing Revenue Account Subsidy was at variance with the figure contained in the papers as submitted to the Board. It was proposed that the estimates for the Housing Revenue Accounts be amended for submission to Council, reflecting the final subsidy determination with a subsequent increase in the HRA reserves. It was reported that a further report will be submitted to the Board with proposals on the use of these additional resources in 2010/11.

On behalf of the Board, the Chair paid tribute to all those officers who had been involved in the preparation of the 2010/11 budget and thanked them for their efforts.

RESOLVED – 

(a)  That Council be recommended to approve the Revenue Budget  for 2010/11 totalling £569,295,000, as detailed and explained in the submitted report and accompanying papers, including a 2.5% increase in the Leeds element of the Council Tax, subject to appropriate amendments to the report for submission to Council to reflect the final determination in respect of the Housing Revenue Account.

(b)  That with respect to the Housing Revenue Account Council be recommended to:

(i)  approve the budget at the average rent increase of figure of  3.1%

(ii)  increase the charges for garage rents to £6.07 per week

(iii)  increase service charges in line with rents (3.1%)

(B)  Capital Programme Update 2009-2014

The Director of Resources submitted a report setting out the updated Capital Programme for 2009-2014. A page containing revised recommendations had been circulated to all members in advance of the meeting.

  RESOLVED – 

(a)  That the following be recommended to Council:

(i)  That the capital programme, as attached to the submitted report, be approved and that the list of schemes shown at Appendix H to the report be reserved until additional resources become available;

(ii)  That the Executive Board be authorised to approve in year amendments to the capital programme including transfers from and to the reserved programme in accordance with Financial Procedure Rules;

(iii)  That the proposed Minimum Revenue Provision policies for 2010/11 as set out in 5.3 of the report and explained in Appendix G be approved;

(iv)  That the Minimum Revenue Provision policies for 2009/10 be amended as set out in 5.3.3 of the report.

(b)  That the list of land and property sites shown in appendix F to the report be disposed of to generate capital receipts to support the capital programme

(c)  That the Director of Resources be authorised to  manage, monitor and control scheme progress and commitments to ensure that the programme is affordable.

(C)  Treasury Management Strategy 2010/2011

The Director of Resources submitted a report on the Treasury Management Policy and Strategy for 2010/11

RESOLVED –

(a)  That approval be given to the initial treasury strategy for 2010/11 as set out in Section 3.3  of the report and that  the review of the 2009/10 strategy and operations set out in Sections 3.1 and 3.2 be noted.

(b)  That Council be recommended to set  borrowing limits for 2009/10, 2010/11. 2011/12 and 2012/13 as set out in Section 3.4 of the report.

(c)  That Council be recommended to set treasury management indicators for 2009/10, 2010/11,2011/12 and 2012/13 as set out in Section 3.5 of the report.

(d)  That Council be recommended to set investment limits for 2009/10. 2010/11, 2011/12 and 2012/13 as set out in Section 3.6 of the report.

(e)  That Council be recommended to adopt  the revised CIPFA Treasury Management Code of Practice 2009 and revised Prudential Code.

(The matters referred to in parts A(a), A(b), B(a) (i) to (iv) and C(b) to (e) being matters reserved to Council were not eligible for Call In)

(Under the provisions of Council Procedure Rule 16.5 Councillor Wakefield required it to be recorded that he abstained from voting on the decisions referred to in parts (A) and (B) of this minute)