Issue - meetings
Robustness of Estimates and Adequacy of Reserves
Meeting: 13/02/2019 - Cabinet (Item 145)
145 Robustness of Estimates and Adequacy of Reserves PDF 281 KB
Lead Member – Councillor D Minnery – Portfolio Holder for Finance
Report of the Head of Finance, Governance and Assurance (Section 151)
Contact: James Walton Tel: 01743 253705
Decision:
RESOLVED:
A To approve the recommended level of general balances to support the 2019/20 revenue budget at £20.400m, noting that the projected balance will be below this for 2019/20;
B To note the projected recommended level of general reserves for the following four years at £26.017m in 2020/21, £32.604m in 2021/22, £34.312m in 2022/23 and £34.700m in 2023/24.
C To note that further consideration will be made of the implications of figures contained within this report and should there be any material change required, this will be reported to Council on 28 February 2019.
Minutes:
The Leader introduced a technical report from the Head of Finance, Governance and Assurance on the robustness of the estimates made for purposes of the budget calculations and the adequacy of the proposed reserves.
RESOLVED:
A. To approve the recommended level of general balances to support the 2019/20 revenue budget at £20.400m, noting that the projected balance will be below this for 2019/20;
B. To note the projected recommended level of general reserves for the following four years at £26.017m in 2020/21, £32.604m in 2021/22, £34.312m in 2022/23 and £34.700m in 2023/24.
C. To note that further consideration will be made of the implications of figures contained within this report and should there be any material change required, this will be reported to Council on 28 February 2019.