Agenda item

(a)  Leeds City Council Revenue Budget 2007/08 and Council Tax 2007/08

To consider a report on the proposals for the City Council’s Revenue Budget for 2007/08, and the Leeds element of the Council Tax to be levied in 2007/08

(b)  Housing Revenue Account Budget 2007/08

To consider a report on the Housing Revenue Account Budget for 2007/08.

(c)  Capital Programme 2006-2010

To consider the report of the Director of Corporate Services on the Capital Programme 2006-2010.

(d)  Treasury Management Policy and Strategy Statements

To consider a report on the Treasury Management Policy and Strategy Statements.

(A)  Revenue Budget 2007/2008

  The Director of Corporate Services submitted a report on the Council’s budget for 2007/08 following detailed consideration of services requirements and taking account of the Local Government Finance Settlement.  The report indicated that the budget would result in a Band D  Council Tax of £1,016.16 for consideration by Council.

  RESOLVED –

  (i)  That Council be recommended to approve the Revenue Estimates for 2007/08 totalling £505.223m, as detailed and explained in the submitted report and accompanying papers, including a 4.5% increase in the Leeds’ element of Council Tax.

  (ii)  That the development of medium term realignment proposals as detailed in 10.7 of the report be approved.

(B)  Housing Revenue Account Budget 2007/2008

  The Directors of Corporate Services and Neighbourhoods and Housing submitted a joint report on the Housing Revenue Account budget and ALMO management fee distribution for 2007/08.

  RESOLVED –

  (i)  That the Council be recommended to approve the budget and that, in order to meet the requirement of the Department of Communities and Local Government average rent increases be kept to 5%, pro rata reductions be applied to the rent restructuring figure of 7.3% in respect of all tenants’ rents.

  (ii)  That the Council be recommended to approve that service charges be increased in line with average rent rises and that the charges for garage rents be increased to £5.25 per week.

  (iii)  That the Council be recommended to approve that the reserve of £2m established to cover the risk of not meeting the subsidy trigger be released and a virement of £1.369m be actioned to reflect the increase in Major Repairs Allowance as detailed in paragraph 3.2.3 of the report.

(C)  Capital Programme 2006/07 to2010/11

  The Director of Corporate Services submitted a report setting out the updated capital programme for 2006/2011.

  RESOLVED –

(i)  That the Council be recommended to approve the capital programme as attached to the submitted report.

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

(D)  Treasury Management Policy and Strategy Statements

  The Director of Corporate Services submitted a report on the proposed Treasury Management Strategy for 2007/08, and provided an update on the implementation of the 2006/07 strategy.

  RESOLVED –

  (i)  That the initial treasury strategy for 2007/08 as set out in Section 3.2 of the report be approved and that the review of the 2006/07 strategy and operations set out in Section 3.1 be noted.

  (ii)  That the council be recommended to set borrowing limits for 2007/08, 2008/09 and 2009/10 as set out in Section 3.3 of the report.

  (iii)  That the Council be recommended to set the treasury management indicators for 2007/08, 2008/09 and 2009/2010 as set out in Section 3.4 of the report.

  (iv)  That the Council be recommended to set the investment limits for 2007/08, 2008/09 and 2009/2010 as set out in Section 3.5 of the report.

  (v)  That the Council be recommended to reaffirm the Treasury Management Policy Statement and note the amendments to Section 7: “Approved instruments and Organisations for Investments” as attached at Appendix C of the report.

  (vi)  That the officers who have worked on the preparation of the budget documents referred to in this minute be informed of the thanks of this Board.

  (The matters referred to in parts A(i), B(i),(ii) and (iii), C(i) and D(ii),(iii), (iv) and (v) of this minute, 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 contained in this minute).