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Temporary Reserves, Retained Funds and Provisions

04/07/2019 - Temporary Reserves, Retained Funds and Provisions

Report of the Portfolio Holder for Assets and Finance to advise Cabinet on the levels of reserves and to seek approval to re-purpose unspent reserves, following the recent review by the Executive Director Finance.



that Cabinet:



approved the transfer of  the reserves, as detailed in Appendix A, of £231,977 to create a General Fund Transformation Reserve and £62,104 to create a Housing Revenue Account (HRA) Transformation Reserve;



noted the reserves to be spent in 2018/19 and 2019/20 which would otherwise be returned to balances; and



noted the current levels of reserves which remained.



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