Decision details
Annual review of Earmarked Reserves – 2024/25
Decision Maker: Cabinet
Decision status: Recommendations Approved
Is Key decision?: No
Is subject to call in?: Yes
Purpose:
To note and review the earmarked reserves held
by the council.
Decision:
That:
a) The earmarked reserves and balances held by the council at 31 March 2024 are reviewed and confirmed as prudent to meet future financial commitments and risks; and
b) The Earmarked Reserves and General Balances Policy Statement 2025/26 is approved and forecast balances to 31 March 2026 are noted
Alternative options considered:
There is no alternative option to undertaking a review. Alternative use of earmarked funds could be proposed, this is open for Cabinet to determine. However should that mean that funds required for an earmarked purpose are no longer available an alternative method of funding would need to be secured. Not all earmarked funds may be redirected for use – for example funding received from external sources for a specified purpose may not be able to be redirected if doing so would amount to a breach of funding conditions
Wards Affected: (All Wards);
Contact: Rachael Sanders, Director of Finance Email: Rachael.sanders@herefordshire.gov.uk Tel: 01432 383775.
Publication date: 24/01/2025
Date of decision: 23/01/2025
Effective from: 30/01/2025
Accompanying Documents:
- Annual review of Earmarked Reserves – 2024/25