Agenda item

Reserves Strategy 2026-27

The Committee is asked to recommend to Council that it approves the:

1.    Reserves Strategy for 2026-27

2.    Repurposing of the earmarked Sinking Fund reserves as a revenue budget equalisation reserve.

Decision:

The Committee resolved to:

 

1.     Recommend to Council that it is informed and assured by the Draft Reserves Strategy noting that the forward projected figures will change when a detailed Budget Report is brought to the Corporate Policy and Resources Committee in January 2026; and

 

2.     Acknowledge the proposed repurposing of the earmarked Sinking Fund reserves as a revenue budget equalisation reserve.

Minutes:

The Committee considered a draft Reserves Strategy and the proposed repurposing of the earmarked Sinking Fund reserves as a revenue budget equalisation reserve. There were a number of factors that would create budget gaps which would be eased with repurposing the reserves.

 

Councillor Clarke requested a recorded vote.

 

For

Councillors Bateson, Beecher, Boughtflower, Button, Doran, Geach, Gibson, Grant, Lee, Mooney, Nichols, Sexton, Williams – 13 votes

Against

0 votes

Abstain

Clarke – 1 vote

 

 

The Committee resolved to:

 

1.    Recommend to Council that it is informed and assured by the Draft Reserves Strategy noting that the forward projected figures will change when a detailed Budget Report is brought to the Corporate Policy and Resources Committee in January 2026; and

 

2.    Acknowledge the proposed repurposing of the earmarked Sinking Fund reserves as a revenue budget equalisation reserve.

Supporting documents: