Decision details

LCR 64 - Combined Authority Budget 2019/20

Decision Maker: Liverpool City Region Combined Authority

Decision status: Recommendations Approved

Is Key decision?: Yes

Is subject to call in?: Yes

Purpose:

To approve the Combined Authority’s budget for 2019/20 which will involve revenue expenditure of more that £0.5m and capital expenditure of more than £3million.

Decision:

The Liverpool City Region Combined Authority resolved that:-

 

(i)          the report be noted;

 

(ii)         the Mayoral Budget as presented at Table 2 of the report be agreed;

 

(iii)       the funding costs associated with the exercise of Mayoral responsibilities as defined by the Combined Authorities (Finance) Order 2017 through the establishment of a Mayoral Precept in 2019/20 distributed between households on the basis set out in Table 1 of this report be agreed;

 

(iv)       the general budget for 2019/20 which is summarised in Table 3 below be approved;

 

(v)        a freeze in the transport levy for 2019/20 with the transport levy payable remaining at £95.4m and distributed in the manner set out in Table 4 of this report be approved;

 

(vi)       the payment of operational grants to Merseytravel of £93.9m for general responsibilities and £23.74m in respect of the operation of the Mersey Tunnels;

 

(vii)     a grant of £5.5m to Merseytravel to support the delivery of strategic capital investment in transport on behalf of the Combined Authority be approved;

 

(viii)    the planned release of £12m of Rail Reserves to support the Rolling Stock programme costs be approved;

 

(ix)       the allocation of the Transport Pot capital funding as detailed at 6.5- 6.7 of this report be approved;

 

(x)        the establishment of a differential transport levy for Halton in 2019/20 and set the differential levy at £3.148m for 2019/20 be approved;

 

(xi)       the Treasury Management Strategy 2019/20 incorporating the Minimum Revenue Provision and associated Treasury Limits and Prudential Indicators as detailed in Appendix 1 be approved; and

 

(xii)     the Capital Strategy as set out at Appendix 3 be approved.

Publication date: 01/02/2019

Date of decision: 01/02/2019

Effective from: 09/02/2019

Accompanying Documents: