Decision details

Reserves Position and Reserves Policy

Decision Maker: Cabinet

Decision status: Recommendations Approved

Is Key decision?: No

Is subject to call in?: Yes

Purpose:

To note the current and forecast positions for both General and Earmarked Reserves and to approve the Reserves Policy.

Decision:

RESOLVED to:

 

1)    Note the current position on Earmarked Reserves:

 

2)    Note the details of the amounts to be released from Earmarked Reserves balances to the General Reserve:

 

3)    Note that the £30.000m released from the Earmark Reserves is expected to be fully required to mitigate the forecast 2024-25 overspend, with the balance being funded from the Revenue Contributions to Capital Expenditure Earmarked Reserve held to support revenue budget management, and so ensure that the General Reserve balance remains at a minimum level; and

 

4)    Approve the Reserves Policy at Appendix five to the report.

 

 

Report author: Heather Green

Publication date: 30/01/2025

Date of decision: 30/01/2025

Decided at meeting: 30/01/2025 - Cabinet

Effective from: 07/02/2025

Accompanying Documents: