That:

a)    The earmarked reserves and balances held by the council at 31 March 2025 are reviewed and confirmed as prudent to meet future financial commitments and risks; and

b)    The Earmarked Reserves and General Balances Policy Statement 2026/27 is approved and forecast balances to 31 March 2027 are noted.

1.     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.