Purpose

To provide the
necessary financial information to enable the Council’s
Revenue Budget, Capital Programme & Housing Revenue Account to
be set in accordance with agreed treasury management
principles.

Content

That the Motion be submitted to
the Meeting of Council on 6 March 2024 with a recommendation
that;
 
(i)            
General Fund Revenue
-      
the draft Revenue Budget for 2024-2025, as attached
at Appendix F, be approved
-      
the forecast spending and funding plans for the
2024-2027 period, as set out at Appendix F, be noted
-      
the forecast levels of statutory and other council
reserves, as set out at Appendix H, be noted
-      
the strategy for the use of balances and reserves
(paragraph 2.15 refers) be approved
-      
the Council’s participation in the Leeds City
Region Business Rates Pool for 2024-2054 be noted and that
authority be delegated to the Chief Executive and Service Director
(Finance), in consultation with the Leader and Cabinet Member
(Finance), to agree the governance arrangements for 2024-2025, to
be approved by the Business Rates Joint Committee (paragraph 2.20
refers)
-      
it be noted that discussions regarding the uplifts
on the rates paid to external providers for demand-led activities
are ongoing, and that authority be delegated to the Strategic
Director (Adults and Health) to agree the final uplifts to rates
for 2024-2025 (paragraph 2.4.3 refers)
-      
approval be given to the Council’s flexible
capital receipts policy for 2024-2025 (paragraph 2.8 and Appendix E
refer)
-      
approval be given to the Council Tax requirement for
2024-2025 (Appendix N refers)
-      
the Council’s Statutory 151 Officer’s
positive assurance statement as to the robustness of the forecasts
and estimates and adequacy of financial reserves be noted
(paragraph 2.21 refers)
-      
authority be delegated to the Council’s
statutory s151 Officer to amend how the finally approved precepts
are recorded in the Council’s revenue budget in line with the
final notifications received following decisions by the West
Yorkshire Mayor Police and Crime Commissioner, the Fire and Rescue
Authority and the Parish Councils, should these be received after 6
March 2023 (paragraph 3.1.3 refers)
 
(ii)           
Treasury Management
-      
the borrowing strategy be approved (paragraphs 2.16
to 2.29 refer)  
-      
the investment strategy be approved (paragraphs 2.30
to 2.38 and Appendices A and B refer)
-      
the policy for provision of repayment of debt
(minimum revenue provision) be approved (paragraphs 2.39 to 2.41,
Appendix C refer)
-      
the treasury management indicators be approved
(Appendix D refers)
-      
the investment strategy (non treasury investments)
be approved (Appendix F refers)
 
(iii)         
Capital
-      
the updated Capital Plan 2023-2032 be approved
(Appendix Kiii refers)
-      
the Capital Strategy (including prudential
indicators) be approved (Appendix K refers)

 
(iv)         
Housing Revenue Account
-      
the draft Housing Revenue Account Budget for
2024-2025 be approved (Appendix L refers)
-      
the strategy for the use of the Housing Revenue
Account reserves be approved (Appendix L refers)