Decision details

To approve the Reserves Strategy and associated governance arrangements to allow the Council to effectively manage its reserves in a more commercial environment.

Approves the Reserves Strategy, as attached as Appendix 1 of the Officer’s report, specifically endorsing:

i.  a minimum level of Reserves at 15% of the Council’s ‘Net Expenditure’; and

ii.  the governance arrangements pertaining to each Reserve, specifically the ring-fencing of capital receipts that are generated from either ‘general service activity’ or from the Commercial Investment Strategy.

To put in place a ‘fit for purpose’ approach to the management of the Council Reserves that support the Medium Term Financial Strategy and the Commercial Investment Strategy. This will in turn assist the Council in generating additional revenue income through the development of a commercial asset portfolio or supporting the development of new or enhance service related assets.

None considered.

The Strategy itself will not have any direct resource implications. However, the operation of the Strategy will support the governance framework around the management of reserves as the Council moves into a more commercial operating environment.