To note and review the earmarked reserves held by the council.

The leader of the council introduced the report setting out the council’s reserves and the purposes for which they were held. The current difficult economic situation was highlighted and the Section 151 officer was asked to provide information on any circumstances where reserves might be available to support the budget for 2023/24.

The Section 151 officer explained that some balances could not be readily accessed for other uses. Other reserves were specifically designed to help manage economic shocks and funding uncertainty. A written response would be provided with more detail.

Cabinet members discussed the position set out in the report and it was noted that:

·       The implementation of 20mph speed limit zones was welcomed and delivered on a commitment made following a motion to Council;

·       Support for road safety and active travel measures for young people was a positive use of the public health reserves;

·       Development of the building retrofit supply chain was very important in a climate of high energy costs;

·       The projects would have a positive impact on the council’s equality duty.

Group leaders gave the views of their respective groups. There was support for progressing the 20mph zones and reducing the backlog of traffic regulation orders as these were regularly raised by parish councils and the public. In response to a challenge on the use of reserves to further development of the eastern river crossing business case, cabinet members noted that the project would not be looking at the route previously considered.

It was resolved that:

a)    Cabinet note the earmarked reserves balances held at 31 March 2022 as at Appendix 1; and

b)    Approve the following movements in reserves to fund the following projects:

a.     Implementation of countywide 20mph speed limit zones £1.2m;

b.    School travel plan support £0.31m;

c.     Building retrofit and supply chain development £0.58m;

d.    Further development of the Eastern River crossing business case £1m;

e.     Reducing the backlog of Traffic regulation orders and carrying out further signing and lining £0.66m