Agenda item

(a). Leeds City Council Revenue Budget and Council Tax 2011/2012

To consider a report on the proposals for the City Council’s Revenue Budget for 2011/12, the Leeds element of the Council Tax to be levied in 2011/12 and the Council House rents for 2011/12.

(b). Capital Programme Update 2010-2014

To consider the report of the Director of Resources on the Capital Programme 2010-2014.

(c). Treasury Management Strategy 2011/2012

To consider a report on the Treasury Management Policy and Strategy for 2011/12.

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

(A)  Revenue Budget and Council Tax 2011/2012

Further to Minute No. 119, 15^th December 2010, the Director of Resources submitted a report on the proposals for the City Council’s Revenue Budget for 2011/2012, on the Leeds element of the Council Tax to be levied in 2011/2012 and on Council House rents for 2011/12, which had been prepared in the context of the Council’s initial budget proposals agreed by Executive Board in December 2010 and the Local Government Finance settlement.

The report noted that where appropriate, a full equality impact assessment had been undertaken in respect of the budgetary proposals and associated decisions which had been presented for consideration, and in response to Members’ enquiries, the Board was provided with details of the formal assessment process and how that process had influenced the submitted proposals.

On behalf of the Board, the Chair paid tribute to all those officers and Members who had been involved in the preparation of the 2011/12 budget setting process and thanked them for their efforts. In addition, the Chief Executive paid tribute to all of those employees  who had, or were due to leave the employment of the Council as part of the Early Leavers Initiative. In doing so, the Chief Executive thanked them for their many years of loyal service and acknowledged their vast experience.

RESOLVED –

(a)  That Council be recommended to approve the Revenue Budget for 2011/2012 totalling £582,228,000, as detailed and explained within the submitted report and accompanying papers, with no increase in the Leeds element of the Council Tax for 2011/2012.

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

(i)  approve the budget at the average rent increase figure of 6.84%;

(ii)  increase the charges for garage rents to £6.49 per week;

(iii)  increase service charges in line with rents (6.84%). 

(c)  That the Director of Resources be authorised to make minor changes for the purpose of clarification, with such changes being highlighted within the subsequent report to Full Council.

(B)  Capital Programme Update 2010-2014

The Director of Resources submitted a report setting out the updated Capital Programme for 2010-2014, which included details of forecast resources for that period.

The report noted that the capital programme outlined a plan for future capital expenditure and highlighted that as more detailed information became available in terms of how of such expenditure would potentially impact upon services, buildings and people, then directorates would undertake equality impact assessments as part of the rationale in determining specific projects from capital budgets. 

RESOLVED –

(a)  That the following be recommended to Council:

(i)  That the capital programme, as attached to the submitted report, be approved;

(ii)  That 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 2011/2012, as set out within paragraphs 5.5 and 5.6 of the submitted report, and as explained within Appendix F be approved.

  (b)  That the capital strategy, as attached at Appendix D to the submitted report be agreed.

(c)  That the list of land and property sites shown in Appendix E to the submitted report be disposed of in order to generate capital receipts for use in accordance with the capital strategy.

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

(C)  Treasury Management Strategy 2011/2012

The Director of Resources submitted a report setting out the Treasury Management Strategy for 2011/2012 and outlining the revised affordable borrowing limits under the prudential framework. The report also provided a review of strategy and operations in 2010/2011.

RESOLVED –

(a)  That approval be given to the initial treasury strategy for 2011/2012, as set out within Section 3.3 of the submitted report, and that the review of the 2010/2011 strategy and operations, as set out within Sections 3.1 and 3.2 of the submitted report, be noted.

(b)  That Council be recommended to set borrowing limits for 2010/11, 2011/12, 2012/13 and 2013/14, as set out within Section 3.4 of the submitted report.

(c)  That Council be recommended to set treasury management indicators for 2010/11, 2011/12, 2012/13 and 2013/14, as set out within Section 3.5 of the submitted report.

(d)  That Council be recommended to set investment limits for 2010/11, 2011/12, 2012/13 and 2013/14, as set out within Section 3.6 of the submitted report.

(e)  That Council be recommended to adopt the revised Treasury management policy statement.

(The matters referred to in parts A(a), A(b)(i) to (iii), B(a)(i) to (iii), 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, Councillors A Carter and Golton required it to be recorded that they both abstained from voting on the decisions referred to within parts (A) and (B) of this minute)