Decision Maker: Corporate Policy and Resources Committee

Outcome: Recommendations Approved

Is Key Decision?: No

Is Callable In?: Yes

Date of Decision: December 9, 2024

Purpose:

Content: 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.