The Leader of the Council and Portfolio Holder for Strategy, Financial Strategy, Budget and Business Plan presented a report by the Head of Finance, Governance and Assurance (Section 151 Officer) on the robustness of the estimates made for the purposes of the budget calculations and the adequacy of the reserves.

RESOLVED:

i)             That the recommended level of general balances to support the 2017/18 revenue budget at £13.29m be approved , noting that the projected balance will be above this for 2017/18;

ii)            That the projected recommended level of general reserves be noted for the following two years at £16.80m in 2018/19 and £33.68m in 2019/20.

iii)           That it be noted that the Council’s General Fund Balance and/or Financial Strategy Reserve may be amended as required to facilitate any amendments required to the Financial Strategy following receipt of the Final Local Government Financial Settlement.