Issue - meetings

Cabinet

Recommended that Council

Consider the report and, if satisfied, to approve:

A)        That the Reserves as summarised at paragraph 11 of the report be released to the General Fund, or transferred to other Earmarked Reserves as shown, on 31 March 2023.

B)        That the IT software and hardware reserves be amalgamated at 31 March 2023 to provide the necessary flexibility. 

C)        That the movement in Reserves in 2022/2023 as set out in Appendix A, and the estimated balance of Reserves of £29.830 million (+), be noted.

Council

Agreed

A)        That the Reserves as summarised at paragraph 11 of the report be released to the General Fund, or transferred to other Earmarked Reserves as shown, on 31 March 2023.

B)        That the IT software and hardware reserves be amalgamated at 31 March 2023 to provide the necessary flexibility. 

C)        That the movement in Reserves in 2022/2023 as set out in Appendix A, and the estimated balance of Reserves of £29.830 million (+), be noted.

Councillor John Williams presented the report, which sought Council’s approval for the level and allocation of the Council’s Earmarked Revenue Reserves as part of the 2023/24 budget setting process. Councillor Heather Williams explained that the Conservative Group would oppose the recommendations in the report due to concerns over the investment strategy.

Councillor John Williams proposed and Councillor Bridget Smith seconded the recommendations in the report. A vote was taken and were cast as follows:

In favour (28):

Councillors Henry Batchelor, John Batchelor, Paul Bearpark, Anna Bradnam, Ariel Cahn, Dr Martin Cahn, Libby Earle, Peter Fane, Corinne Garvie, Jose Hales, Bill Handley, Sally Ann Hart, Sunita Hansraj, Geoff Harvey, Tumi Hawkins, Pippa Heylings, Helene Leeming, Daniel Lentell, Peter McDonald, Brian Milnes, Annika Osborne, Dr Lisa Redrup, Judith Rippeth, Bridget Smith, Susan van de Ven, Dr Aidan Van de Weyer, Natalie Warren-Green and John Williams

Against (9):

Councillors Dr Shrobona Bhattacharya, Tom Bygott, Graham Cone, Sue Ellington, Mark Howell, Lina Nieto, Bunty Waters, Dr Richard Williams and Heather Williams.

Abstain (0)

Council

Agreed

A)       That the Reserves as summarised at paragraph 11 of the report be released to the General Fund, or transferred to other Earmarked Reserves as shown, on 31 March 2023.

B)       That the IT software and hardware reserves be amalgamated at 31 March 2023 to provide the necessary flexibility. 

C)       That the movement in Reserves in 2022/2023 as set out in Appendix A, and the estimated balance of Reserves of £29.830 million (+), be noted.

Cabinet:

Recommended to Council:

a)    That the Reserves as summarised at paragraph 11 of the report be released to the General Fund or transferred to other Earmarked Reserves as shown, on 31 March 2023.

b)    That the IT software and hardware reserves be amalgamated at 31 March 2023 to provide the necessary flexibility.

c)    That the movement in Reserves in 2022/2023 as set out in Appendix A, and the estimated balance of Reserves of £29.830 million (+), be noted.

This is a recommendation to Council, and not subject to call-in.

Cabinet received the Review of Revenue Reserves and Provisions. Councillor John Williams, Lead Cabinet Member for Resources, introduced the report, and commented on the Council’s current reserves.

After no further comments, Cabinet:

Recommended to Council:

a)    That the Reserves as summarised at paragraph 11 of the report be released to the General Fund or transferred to other Earmarked Reserves as shown, on 31 March 2023.

b)    That the IT software and hardware reserves be amalgamated at 31 March 2023 to provide the necessary flexibility.

c)    That the movement in Reserves in 2022/2023 as set out in Appendix A, and the estimated balance of Reserves of £29.830 million (+), be noted.