To note and review the reserves held by the council.

Earmarked reserves are established to fund future year commitments over and above the annual budget requirement. They generally arise where funding allocations exceeds annual 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.