Agenda item

The Council considered a report of the Corporate Director of Resources which provided information on the robustness of the estimates and the adequacy of reserves in accordance with the requirements of Section 25 of the Local Government Act 2003.

Councillor R Bell referred to paragraph 15 of the report and asked where the figure for the levels of reserves at between 5% and 7.5% originated, and how this level of reserves compared with other authorities.  He also referred to the cash terms for these reserves which were shown as being between £33m and £33m and asked what the range actually was.  The Corporate Director of Resources replied that the Chartered Institute of Public Finance and Accountancy considered this was a prudent level of reserves and was also best practice.  The cash terms for the reserves should read as being between £25m and £33m.

Moved by Councillor Napier, Seconded by Councillor Henig and

Resolved:

That the Council have regard to the report when approving the budget and the level of Council tax for 2014/15.