Issue - meetings

The Committee gave consideration to a report, as presented by the Director of Finance and Assets (Section 151 Officer), to review the Council’s earmarked reserves and identify reserves which could be repurposed to meet priorities. It was explained that Officers had been requested by the Administration Group to review the levels of earmarked and general reserves, partly driven by an ageing leisure centre in Gainsborough which would require significant investment to bring it up to modern requirements, and with an anticipation to reduce the amount of ongoing maintenance required. Whilst it was hoped that external funding could be acquired, it would still require a significant amount of Council investment to deliver any future agreed priorities. This would come from earmarked reserves and potentially borrowing. The report sought to inform Councillors of the potential resources available to support any future works, and to provide a basis for what may be affordable.

Members were thankful for the review, citing uncertain future funding for local authorities and the benefits of having reserve figures detailed in one report. It was suggested that, whilst the priorities discussed may originate from the Administration Group, it was important for there to be collaboration with all Councillors as well as partner organisations. It was also recognised that it was prudent to not rush into spending reserves, with Local Government Reorganisation looming, but to take a measured approach.

With no further comments, the Chairman read aloud the recommendations as detailed in the report. Having been moved, seconded, and voted upon it was unanimously

            RESOLVED that

a)    the amount of earmarked reserves which could be released to fund future agreed priorities be noted; and

b)    the governance process for developing new priorities be noted.