To consider the submitted report on the current forecast position on the use of Council reserves and any recommendations from the Overview and Scrutiny Board.

Members considered the submitted report setting out a review of the Council’s financial reserves as part of the Council’s annual budget process.

Elected Mayor Oliver proposed and Councillor Mills seconded a motion as set out below:

Council approve that:

(i)        Up to £1.0m is earmarked from the Comprehensive Spending Review Reserve to fund the balance of the predicted 2018/19 Council overspend; and

(ii)       £2.1m of reserves identified in paragraph 4.2 of the submitted report are transferred to both the Comprehensive Spending Review Reserve (£1.1m) and the IT reserve (£1.0m) to support future IT replacement and IT investment for all services including a replacement Children’s Services care management system.

The motion was put to the vote and declared lost.

The Head of Finance to present the report on the current forecast position on the use of Council reserves.

The Elected Mayor to answer any of the Board’s questions.

The Board to consider making any recommendations to the Council.

The Board noted the report setting out the Review of Reserves for 2019/2020 which identified that £1 million from the Comprehensive Spending Review (CSR) Reserve would be required to fund the balance of the predicted 2018/2019 revenue budget overspend.  £2.1 million of reserves had also been identified to be transferred to ensure that the CSR Reserve could be maintained at a prudent level and to support future IT replacement and investment.