Decision status: Recommendations Approved
Is Allweddol decision?: No
Is subject to call in?: No
It was resolved –
· To note the draft unaudited main financial statements for 2020/21.
· To note the position of general balances and earmarked reserves and to approve the creation of the new reserves noted in Appendix 4 of the report totalling £5,181,646.
· To note the school balances position.
· To approve increasing the minimum level of the General Reserve balance to £9m.This sum will be reviewed again as the 2022/23 revenue budget is set.
· To approve the creation of Service Reserves totalling £1.376m as per Table 3, Appendix 1 of the report.
· To authorise in principle, the use of up to £3.471m (£1.217m of the General Fund balance and £2.254m of uncommitted earmarked reserves) to fund specific projects designed to meet risks and challenges faced by the Council. The Executive will approve all new projects prior to their commencement.
Publication date: 12/07/2021
Date of decision: 12/07/2021
Decided at meeting: 12/07/2021 - The Executive