(Report of the Portfolio Holder for Assets and Finance)
The Report of the Portfolio Holder for Assets and Finance to advise Members on the levels of reserves and to seek approval to re-purpose unspent reserves, following the recent review by the Executive Director Finance.
RESOLVED that Cabinet:
1. Approved the transfer of the reserves, as detailed in Appendix A, including £560,000 to the Transformation reserve, £64,467.85 to General Fund Balances and £5,000 to Housing Revenue Account Balances (HRA);
2. Noted the reserves to be spent in 2020/21 and 2021/22 which will otherwise be returned to balances; and
3. Noted the current levels of reserves remaining.
(Moved by Councillor R Pritchard and seconded by Councillor J Oates)