Issue details

Annual review of earmarked reserves

To note and approve the annual earmarked reserves review.

Earmarked reserves are established to hold revenue balances to fund future year commitments over and above the annual budget requirement. They generally arise where funding exceeds expenditure, usually due to the timing of receipts being ahead of incurring expenditure. As a matter of good practice a review is undertaken each year to establish the continued need for reserves held for earmarked purposes to ensure resources can be used to best effect whilst maintaining a prudent level of reserves to meet future anticipated commitments.

Decision type: Non-key

Decision status: Recommendations Approved

Wards affected: (All Wards);

Notice of proposed decision first published: 08/07/2019

Decision due: 24 October 2019 by Cabinet

Lead member: Cabinet member finance and corporate services

Lead director: Chief finance officer

Department: Corporate Support Centre

Contact: Josie Rushgrove, Head of corporate finance Email: jrushgrove@herefordshire.gov.uk Tel: 01432 261867.

Decisions

Agenda items

Documents

  • Annual review of earmarked reserves