(Members Code of Conduct – Part 4A of the Constitution)

To receive disclosures of interests from Members on matters to be considered at the meeting. The disclosure must include the nature of the interest.

An interest must also be disclosed in the meeting when it becomes apparent to the member during the meeting.

Notes:

(1)          Members must consider their interests, and act according to the following:

(2)          Disclosable pecuniary interests relate to the Member concerned or their spouse/partner.

(3)          Members in arrears of Council Tax by more than two months must not vote in decisions on, or which might affect, budget calculations, and must disclose at the meeting that this restriction applies to them.  A failure to comply with these requirements is a criminal offence under section 106 of the Local Government Finance Act 1992.

(4)          Officers must disclose interests in accordance with Council Standing Order 44.

In addition, to receive and consider a report from the Council’s Monitoring Officer, which requests the Council to grant a dispensation to all Members who have certain Disclosable Pecuniary Interests, as defined in the Relevant Authorities (Disclosable Pecuniary Interests) Regulations 2012, in the decision to approve the budget and to set the level of Council Tax and Business Rates for 2025/26 during the Budget Council meeting on 6 March 2025.

 Recommended:

That Council:

1)    Grants a dispensation to the Members of the Authority who have requested one, to enable them to participate in full in the decision to approve the budgets for 2025/26 and to set the Council Tax and Business Rates for 2025/26.

2)    Approves the dispensation for a period of 1 year until 6 March 2026.

3)    Notes the Monitoring Officer’s advice that such interests referred to in paragraph 3.6 of his report   shall not prevent Members from speaking and voting at the Budget meetings.

Recommended – That the minutes of the meetings held on 10 December 2024 and 21 January 2025 be signed as a correct record.

(Fatima Butt – 07970 411746)

To receive any apologies for absence.

(Fatima Butt – 07970 411746)

The Lord Mayor’s announcements will be circulated before the Council meeting to be held on 11 March 2025.

(Access to Information Procedure Rules – Part 3B of the Constitution)

Reports and background papers for agenda items may be inspected by contacting the person shown after each agenda item.  Certain reports and background papers may be restricted. 

Any request to remove the restriction on a report or background paper should be made to the relevant Strategic Director or Assistant Director whose name is shown on the front page of the report. 

If that request is refused, there is a right of appeal to this meeting. 

Please contact the officer shown below in advance of the meeting if you wish to appeal. 

(Fatima Butt – 07970 411746)

To consider any motions (i) to appoint members to a Committee or a Joint Committee; or (ii) to appoint Chairs or Deputy Chairs of Committees (excluding Area Committees).

To consider any recommendations arising from meetings of the Executive and Committees.

(Fatima Butt – 07970 411746)

The Executive at its meeting on 4 March 2025 will make recommendations to Council on the Budget for 2025/26.

The following reports are submitted:

(i)           SECTION 151 OFFICER ASSESSMENT UNDER S25 OF THE LOCAL GOVERNMENT ACT 2003 OF THE COUNCIL'S FINANCIAL POSITION

The report of the Director of Finance (Executive Document “AX”) assesses the adequacy of the financial strategy, forecast levels of reserves, the risks associated with the budget, the overall financial position of the Council and actions needed and being taken to secure the Council’s long term financial stability and the robustness of the proposed budget for 2025/26. 

                                                                        (Steven Mair – 07786 525809)

(ii)          MEDIUM-TERM FINANCIAL STRATEGY (MTFS) 2025/26 TO 2029/30

The report of the Director of Finance (Executive Document “AY”)  provides  an update on the Council’s Medium-Term Financial Strategy (MTFS) presented to Executive previously in July 2024 and January 2025. It takes account of the final local government financial settlement and the delivery of the Council’s improvement plan. It sets out the current estimated journey to financial sustainability, the estimated total Capitalisation Direction the Council will require and the assumptions that underpin this.

This report should be read alongside the other reports on the agenda as it will help inform the decision making, particularly in regards to the 2025/26 Budget Report.

                                                                        (Steven Mair – 07786 525809)

(iii)        CAPITAL INVESTMENT PLAN 2025-26 TO 2029-30

The report of the Director of Finance (Executive Document “AZ”) sets out the proposed Capital Strategy for Bradford Council for the five-year period between 1 April 2025 and 31 March 2030. The Council has a proposed gross capital programme up to 2029-30 of £1.172bn, partially offset by £668m of income, giving a net budget of £504m – which is to be funded by borrowing. The cost of borrowing has been built into the revenue implications of the capital strategy.

                                                                        (Lynsey Simenton – 07582 102779)

(iv)        TREASURY MANAGEMENT STRATEGY STATEMENT 2025-26

The report of the Director of Finance (Executive Document “BA”) sets out the Council’s Treasury Management Strategy for 2025/26 and covers:

·         capital spending including Minimum Revenue Provision (MRP)

·         borrowing and debt reduction strategy

·         managing cash balances

·         prudential indicators

                                                                        (Lynsey Simenton – 07582 102779)

(v)          THE COUNCIL'S REVENUE ESTIMATES FOR 2025/26 (GENERAL FUND)

The report of the Director of Finance (Executive Document “BB”) provides  details of the Council’s Revenue Budget Estimates for 2025/26.

The report also outlines feedback received through the consultation undertaken on the budget proposals that Executive approved for consultation and public engagement at their meetings of the 5 November 2024 and 3 December 2024.Council will need to have regard to this feedback when setting the budget for 2025/2026.

                                                                     (Steven Mair – 07786 525809)

(VI)            HRA 30-YEAR BUSINESS PLAN AND 2025/26 BUDGET

A joint report of the Director of Finance and the Strategic Director Place (Executive Document “BC”) sets out the proposed 30-year Business Plan for the Housing Revenue Account (HRA) and considers both the Revenue and Capital position. The Revenue  ...  view the full agenda text for item 8.

(i)            SECTION 151 OFFICER ASSESSMENT UNDER S25 OF THE LOCAL GOVERNMENT ACT 2003 OF THE COUNCIL'S FINANCIAL POSITION

Resolved –

(1)      That Council have regard to Executive Document “AX” in setting the budget, and in particular note the conclusions that provided that:

·         the current and planned actions are successfully concluded ie that the emerging financial strategy is agreed and implemented in full;

·         the Government supports the Council with a “minded to” Capitalisation Direction and will agree to do so in future years;

·         the recommendations in this and the other budget reports are agreed and actioned in full;

·         reserves continue to be built up as required;

·         risks are properly and promptly managed;

·         financial management issues are successfully addressed;

then the overall estimates are sufficiently robust for the Council to set a balanced budget for 2025/26.

(2)       Council agreed:

·         that the level of general reserves be increased;

·         that there is accordingly no planned use of reserves to support the 2025/26 budget;

·         to implementation in full of the financial strategy ie that the Council:

·       identifies an estimated £50m of revenue savings for 2026/27 to 2029/30;

·       identifies £150m of assets to be sold to generate capital receipts, and investigates the potential for more;

·       undertakes a further review of the capital programme;

·       operates expenditure control panels as set out in the report until at least 2026/27;

·       continues with its review of financial management and finances of the Council;

·       invests in core functions necessary and subject to business

      cases;

·         any non-delivery of any planned revenue savings will need to be absorbed within cash limited Departmental budgets.

(3)       That Council noted:

·         the assessment of the current financial position of the Council;

·         that this assessment is the result of emerging and recent work.  The situation will change and the estimated financial position and solutions will require continual development and refinement and will likewise vary as the year progresses;

·         the s151 officer is not minded to issue a s114 notice at this point working on the basis that the above assumptions will be supported and seen through on time and in full;

·         given the extremely challenging financial situation the Council finds itself in, which it has in recent months started to address, if the recommendations are not agreed, or if the assumptions are not delivered as assumed then very serious consideration will be given to the issuing of a s114 notice;

·         as with all budgets there is the potential for amendments to be proposed/agreed which could change the overall package of proposals. In that respect, it should be highlighted that this statement would have to be amended if a decision was proposed that leads to the Council’s budget not being in balance.  In addition, any other amendments would be considered against the scale of the overall budget and depending upon the extent and nature, may result in a revised statement.

To be actioned by: Director of Finance                                

                                                               (Steven Mair – 07786 525809)

(ii)          MEDIUM-TERM FINANCIAL STRATEGY (MTFS) 2025/26 TO 2029/30

Resolved –

That Council: 

(1)      Approved the updated  ...  view the full decision text for item 8.