Decision Maker: Cabinet

Outcome: For Determination

Is Key Decision?: No

Is Callable In?: Yes

Date of Decision: September 18, 2024

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.