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Decision details

Temporary Reserves, Retained Funds and Provisions

Decision Maker: Cabinet

Decision status: Recommendations Approved

Is Key decision?: Yes

Is subject to call in?: No

Purpose:

To seek approval for the establishment or retention of Temporary Reserves, Retained Funds and Provisions, to write back to balances those reserves that have been identified as no longer being required

Decisions:

The Report of the Portfolio Holder for Corporate Services and Assets seeking approval for the establishment or retention of Temporary Reserves, Retained Funds and Provisions, to write back to balances those reserves that have been identified as no longer being required was considered.

 

RESOLVED:

 

That:

 

1

Cabinet approved in principle the creation/retention of Temporary Reserves as detailed in this report and  considered whether a spending plan against each of the individual reserves will be required;

 

2

Cabinet approved that should the actual outturn level adversely vary from the predicted outturn, adjustments will be made and Members may be asked to review the creation of these reserves;

 

3

Cabinet approved the write-back of reserves as no longer being required in the sum of £145,770 to General Fund Balances, to support the Medium-Term Financial Strategy, and;

 

4

Additional reserve business case funded totalling £64,330 were agreed as follows:

  • £8,000 Town Hall improvements
  • £6,330 Belgrave Activity Fund
  • £50,000 Corporate Change Project Manager

(Moved by Councillor D Cook and seconded by Councillor J Garner)

 

Report author: Phil Thomas

Publication date: 16/04/2012

Date of decision: 04/04/2012

Decided at meeting: 04/04/2012 - Cabinet

Accompanying Documents: