Decision Maker: Executive Board
Decision status: Recommendations Approved
Is Key decision?: Yes
Is subject to call in?: Yes
As part of the Council’s closure of its 2020/21 accounts consideration to be given to the earmarking of reserves for the purposes stated in the report to be received at Executive Board.
The Chief Officer (Financial Services) submitted a report presenting the Council’s final outturn position for the 2020/21 financial year in respect of both the General Fund revenue budget and the Housing Revenue Account. The report also sought approval regarding the creation of earmarked reserves, as detailed.
Responding to a Member’s enquiry, officers undertook to provide the Member in question with further detail on the overall amount of funding which had been received from Government in the form of Covid-19 financial support during the pandemic.
Responding to Members’ enquiries regarding whether, in light of the outturn position, consideration would be given to reviewing staffing levels in some front line services, or reconsidering some of the decisions taken as part of the 21/22 budget setting process, the Council’s continuing financial challenges were highlighted, with it also being undertaken that comprehensive reviews would also be undertaken as part of the budget setting process for next financial year.
In conclusion, the Executive Member for Resources extended her thanks to all employees for their continued efforts throughout this difficult time, including those who had left the Authority through the Early Leaver’s Initiative.
(a) That the Council’s outturn position for the 2020/21 financial year, as presented in the submitted report, be noted;
(b) That the creation of earmarked reserves, as detailed in paragraph 6.7 of the submitted report, be agreed, and that the necessary authority be delegated to the Chief Officer Financial Services, to enable the Chief Officer Financial Services to approve their release;
(c) That it be noted that the Chief Officer Financial Services will be responsible for the implementation of the above resolutions following the ‘call in’ period.
Reason Key: Financial Impact>£500K;
Other reasons / organisations consulted
This is a factual report and is not subject to consultation.
Contact: Victoria Bradshaw, Chief Officer - Financial Services 0113 37888540 Email: Victoria.Bradshaw@leeds.gov.uk.
Report author: Victoria Bradshaw
Publication date: 07/07/2021
Date of decision: 23/06/2021
Decided at meeting: 23/06/2021 - Executive Board
Effective from: 03/07/2021