Issue - meetings

Consideration was given to the report of the Chief Officer Resources.

RESOLVED that the report be accepted and

·        The use of general and earmarked reserves for 2019/2020 be noted.

·        The draft increase of the General Reserve in 2019/2020 to £6.348m, being 4.69% of net revenue expenditure (above the 4% target level) be noted.

·        the impact the £0.454m favourable variance for 2019/2020 would have on the General Reserve target; and

·        To continue to challenge budget overspends and implement appropriate service Action Plans, where required.

·        Maintenance of general reserves at an adequate level is crucial to the Council being able to meet future liabilities arising from risks for which specific provision has not been made.