The Chief Officer, Financial Services submitted a report which provided the Council’s final outturn position for the financial year 2018/19, and which sought consideration of any related actions.
Responding to a Member’s enquiry regarding a proposal to utilise part of the provisional 2018/19 surplus from the Leeds City Region Business Rates Pool to support the West Yorkshire Combined Authority ‘China/India Desk’, the Board received further detail on the work of that project and its aims, in terms of providing benefit and inward investment for the region. Also, the Board noted that in order for the pool to utilise such funds, it needed to be allocated to activities promoting economic growth and development.
Also, responding to an enquiry, the Board received further information and context regarding the reserves which were currently held within the Adults and Health directorate.
Finally, responding to the Chair’s comments and ahead of the forthcoming Local Government Association conference, support was provided for a cross-party approach to be taken in continuing to raise concerns around the lack of certainty being provided by Government in respect of the future financing of Local Government.
(a) That the outturn position for 2018/19, as detailed within the submitted report, be noted, and that the creation of earmarked reserves as detailed in paragraph 5.3 of the same report, be agreed, with the release of such reserves being delegated to the Chief Officer Financial Services;
(b) That the use of the projected surplus from the 2018/2019 Leeds City Region Business Rates Pool to forward fund the projects which are detailed in paragraph 2.9 of the submitted report, be approved, with it being noted that these projects were initially agreed by the Leaders of the Member Authorities of this Pool following its disbanding on the 31st March 2019;
(c) That it be noted that the Chief Officer Financial Services will be responsible for the implementation of the above resolutions following the conclusion of the ‘Call In’ period.