Issue - meetings

Reserves Strategy

Meeting: 09/12/2024 - Corporate Policy and Resources Committee (Item 146)

146 Reserves Strategy for Capital & Revenue for 2025-26 to 2028-29 pdf icon PDF 791 KB

Committee is asked to:

1.     Note the forecast Council Reserves balances for the four years ending 31 March 2029

2.     Note a further report will come to Committee in February once the final budget has been finalised 

3.     Agree to repurpose £8.71m of earmarked Revenue Reserves to offset abortive project management costs on Council housing regeneration sites, that must  be re-charged from Capital to the Revenue Budget

4.     Repurpose the Green Belt fighting fund reserve (£900k) to become a Local Plan Resources funding reserve to be applied in 2025-26 and 2026-27 to help fund Strategic Planning

5.     To apply a further £700k of Social Housing Initiatives Reserve in 2025-26 to offset Revenue pressures arising from Homelessness

Additional documents:

Decision:

The Committee resolved to:

 

1.    Note the forecast Council Reserves balances for the four years ending 31 March 2029,

 

2.    Note a further report will come to the Committee in February once the final budget has been finalised,

 

3.    Agree to repurpose £8.71m of earmarked Revenue Reserves to offset abortive project management costs on Council housing regeneration site, that must be re-charged from Capital to the Revenue Budget,

 

4.    Repurpose the Green Belt fighting fund reserve (£900k) to become a Local Plan Resources Funding Reserve to be applied in 2025-26 and 2026-27 to help fund Strategic Planning; and

 

5.    To apply a further £700k of Social Housing Initiatives Reserve in 2025-26 to offset revenue pressures arising from homelessness.

Minutes:

The Committee resolved to:

 

1.    Note the forecast Council Reserves balances for the four years ending 31 March 2029,

 

2.    Note a further report will come to the Committee in February once the final budget has been finalised,

 

3.    Agree to repurpose £8.71m of earmarked Revenue Reserves to offset abortive project management costs on Council housing regeneration site, that must be re-charged from Capital to the Revenue Budget,

 

4.    Repurpose the Green Belt fighting fund reserve (£900k) to become a Local Plan Resources Funding Reserve to be applied in 2025-26 and 2026-27 to help fund Strategic Planning; and

 

5.    To apply a further £700k of Social Housing Initiatives Reserve in 2025-26 to offset revenue pressures arising from homelessness.