Agenda item

The Committee considered a report of the Corporate Director, Resources that assessed whether Durham County Council should be considered a ‘going concern’, and whether the accounts should be prepared on that basis (for copy see file of Minutes).

The Corporate Director, Resources assured the Committee that a robust medium term financial plan (MTFP) was in place and the authority were well on the way to agreeing MTFP 5.  He added that the authority had a good track record of delivering value for money and had a prudent level of general reserves.  This allowed for the authority being able to meet exceptional costs, such as, flooding and winter maintenance.

Councillor Smith endorsed the authority having large reserves as gives independence and flexibility.  The Chairman added that the authority had needed to draw from them over the last couple of years with increases in winter maintenance and flooding incidences.

Resolved:-

That the recommendations contained within the report be agreed.