Issue - meetings

The Executive considered a report detailing the Council’s Reserves and Provisions.  At 31 March 2017 the Council had £21.35m in useable reserves which were backed by cash. The report also made an estimate as to the level of reserves as at 31 March 2018 based on current knowledge, together with schedules showing what each reserve was for and the rules regarding expenditure.

Members discussed the Affordable Housing Fund and were advised that no schemes had yet been identified which met the criteria of the fund.

In relation to the Old Dean Toddlers Playground Fund, the Executive Head of Finance agreed to investigate whether the interest had been included.

The Insurance Reserve comprised a sum set aside in connection with the run-down of Municipal Mutual Insurance. Members enquired whether it would be possible to reduce the amount held in this Fund.  The Executive Head of Finance advised that the Fund had been used to meet a recent claim.  However he would investigate as to whether the fund could be reduced.

Resolved to note the report.