Purpose

The purpose of the report is to provide the
outcome of the annual review of the Council’s Reserves Policy
following the reporting of the Council’s 2023/24
outturn
position. The report needs to be read in conjunction with the
Medium Term Financial Plan Update and Cabinet Response –
Responding to Our Medium Term
Financial Plan reports presented elsewhere on this
agenda.??

Content

The Cabinet considered
an update on the Council’s Reserves Policy following the
reporting of the Council’s 2023/24 outturn position and has
agreed to:-
 
(1) Note the annual
review of Council’s 2024/25 Reserves Policy including the
level and rationale for the reserves held.
 
(2) Approve the
adjustments and reclassification of earmarked reserves held in line
with the recommended amounts.
 
(3) Approve the
proposed 2024/25 Reserves Policy.