Issue - meetings
Robustness of Estimates and Adequacy of Reserves
Meeting: 11/02/2015 - Cabinet (Item 92)
92 Statement of Chief Financial Officer on Robustness of Estimates and Adequacy of Reserves 
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Lead Member – Mr Mike Owen, Portfolio Holder for Finance, Resources and Support.
Report of the Head of Finance, Governance and Assurance (Section 151 Officer) is attached, marked 11.
Contact – James Walton (01743 255011)
Decision:
(a) That approval be given to the recommended level of general balances to support the 2015/16 revenue budget at £15.86m, noting that the projected balance would be below this for 2015/16.
(b) That the projected recommended level for the following two years at £15.52m and £15.76m be noted, and also that the projected level of general balances was planned to be brought broadly in line with the target for 2017/18.
Minutes:
92.1 The Portfolio Holder for Finance, Resources and Support presented a report by the Council’s Chief Financial Officer – copy attached to the signed minutes – on the robustness of the estimates made for the purposes of the budget calculations and the adequacy of the proposed reserves which had been prepared in accordance with Section 25 of the Local Government Act 2003.
92.2 RESOLVED:
(a) That approval be given to the recommended level of general balances to support the 2015/16 revenue budget at £15.86m, noting that the projected balance would be below this for 2015/16.
(b) That the projected recommended level for the following two years at £15.52m and £15.76m be noted, and also that the projected level of general balances was planned to be brought broadly in line with the target for 2017/18.