The Council's Budget for 2014/15 at approved at full council on 26 February 2014.
The Council to date has been successful in responding to the challenging reductions to its funding since 2010 which has been in the region of £94m over the past three years. Based on the national spending totals announced in the 2013 Spending Review, and a subsequent technical consultation, the Council now anticipates that there will be a further reduction in funding from Government of around £81m for core services over the two years 2014/15 and 2015/16. This reduction in funding is in addition to the need to meet the cost of inflation and continuing spending demands across a range of services.
Savings of £200m have been achieved over the past three years and the Council will continue to become a smaller organisation employing fewer staff over the next few years. There will be a need to further review many of the services we currently provide and consider how they will be provided in future. This will require many challenging decisions to be taken.
The proposals for next year include significant reductions across a broad range of services totalling £46m and includes net reductions in staffing equating to 273 ftes by the end of 2014/15.
It is proposed that the Council will increase its Council Tax in 2014/15 by 1.99% rather than accept the Council Tax freeze grant which is equivalent to a 1% increase.
Revenue expenditure involves spending on day-to-day running costs. This is funded from a number of different sources, the most significant being general government grant (known as revenue support grant), business rates and council tax. The remainder comes from charges for services, such as council homes rents and entrance fees. There is also a small contribution from our reserves.
The annual financial plan is our approved budget for revenue spend for the year. It also tells you about our services and explains the basics of local government finance.
Don’t want to see the detail! Our summary budget shows you just the headline figures.
Budget Consultation 2013
Last autumn, a record number of Leeds' residents told us what was important to them in the council's budget in the 'YouChoose' budget simulator consultation. This information still guides us one year on as part of the budget for 2014/15 and beyond.
It is important to us that you can find out what's happened since the YouChoose consultation one year ago. To learn what we've been doing to meet the challenge of delivering services in difficult financial circumstances, look at 'How we listen - at a glance' or for an alternative version, open the 'How we listen when You Choose' document by clicking on the Documents section and selecting the link to your preferred document.
This year we wanted to check if you think the YouChoose priorities are still the right ones, in a short questionnaire - Budget Consultation 2013. What you told us will help us check this year's council budget is delivering the right things, and that we have the best plans for the long-term. The results from the consultation - Your Leeds Your Say Response - is available in the Documents section.
Capital expenditure relates to spending of a long-term nature where assets are purchased, constructed or improved by the council. In 2013/14, capital projects are paid for by grants and contributions (35%) and revenue contributions to capital including the Housing Revenue Account (HRA) (23%). Projects are also funded by borrowing (42%), which is undertaken at agreed rates of interest and repaid from revenue budgets.
The capital programme is our approved budget for capital spend for 2012-2016.