Issue - meetings

a)  Leeds City Council Revenue Budget and Council Tax 2018/2019

To consider the report of the Chief Officer Financial Services on the proposals for the City Council’s Revenue Budget for 2018/2019 and the Leeds element of the Council Tax to be levied on 2018/2019

b)  Capital Programme Update 2018 – 2021

To consider the report of the Chief Officer Financial Services on the Capital programme for the period 2018 – 2021

c)  Treasury Management Strategy 2018/2019

To consider the report of the Chief Officer Financial Services on the Treasury Management Policy and Strategy for 2018/2019

Further to Minute No.124, 13th December 2017, the Chief Officer, Financial Services submitted a report regarding the proposals for the City Council’s Revenue Budget for 2018/2019 and the Leeds element of the Council Tax to be levied in 2018/2019.

With the agreement of the Chair, Board Members were in receipt of a supplementary addendum together with associated revised recommendations arising from the late receipt of information regarding the level of resources available to the Authority.

The updated information highlighted that the level of additional resource available to the City Council in respect of the 2018/19 revenue budget was £2,825k, and due to the short notice at which this information had become available, it was proposed for the purposes of recognising this additional resource in the 2018/19 budget, that £756k of it should be placed within the Council’s General Reserve (which would increase the overall budgeted contribution to £1,756k in 2018/19) and £2,069k should be placed within an earmarked reserve for Adult Social Care, with proposals to use the additional resource being developed as appropriate.

Responding to a Member’s enquiry, the Board received further detail on the total sum of Business Rates Retention monies that the Council would receive in 2018/19.

(A) 2018/2019 Revenue Budget and Council Tax

RESOLVED –

(a)  That Executive Board recommends to Council the adoption of the following, subject to the inclusion of the proposed changes to the submitted 2018/19 Revenue Budget as set out within the addendum:-

i)  That the revenue budget for 2018/19 totalling £510.9m be approved. This means that the Leeds element of the Council Tax for 2018/19 will increase by 2.99% plus the Adult Social Care precept of 2%. This excludes the Police and Fire precepts which will be incorporated into the report to be submitted to Council on the 21st February 2018. The proposed changes to the submitted 2018/19 Revenue Budget, as set out within the addendum will also be incorporated into the report to be submitted to Council;

ii)  That approval be given for grants totalling £70k to be allocated to parishes;

iii)  That approval be given to the strategy at Appendix 9 of the submitted report in respect of the flexible use of capital receipts;

iv)  That, in respect of the Housing Revenue Account Council be recommended to approve the budget with:-

·  A reduction of 1% in dwelling rents in non-Private Finance Initiative areas.

·  An increase of 3% in dwelling rents in PFI areas.

·  A 3.9% increase in district heating charges.

·  That service charges for multi-story flats are increased by £2 per week.

·  That service charges for low/medium rise properties are increased by 3.9%.

·  That the charge for tenants who benefit from the sheltered support service currently paying £4 a week be increased to £6 per week.

·  That any overall increase to tenants in respect of rents, service and sheltered support charges will be no more than £5 per week.

(b)  That officers be authorised to begin consultations without delay on the proposals to increase existing fees and charges;

(c)  ...  view the full minutes text for item 144