Decision details

The Director of finance & Digital Services presented his report which set out the position with regard to one-off resources which had become available following a review of the Council’s earmarked reserves post completion of the audit process of the Council’s 2018/19 Statement of Accounts. 

Members were advised that a risk assessment has been undertaken on the Council’s earmarked reserves and the opportunity had been presented to release resources, adding that in light of the one off nature of these resources, they could now be considered for use to support the Council’s investment priorities, as aligned to the Corporate Plan.

The Deputy Leader spoke positively of the investment priorities available and commented on the fortunate position that the Council were in to consider such investment in austere times and welcomed the opportunity to present the report to the Council meeting on the 23^rd October 2019.

Members RESOLVED:

1.    That following review, to propose the release of earmarked reserves and resultant investment priorities as detailed at Appendix A of the report to Council at its meeting on 23^rd October 2019.

2.    To receive a further update in early 2020 on earmarked reserve availability as part of the normal budget strategy work being undertaken in preparation for the 2020/21 financial year.