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Following a review
of the earmarked reserves, as identified as an action in the Annual
Service Delivery Plan 2025/26, the report of the Head of Finance
and Section 151 Officer recommended a number
of transfers to assist with the delivery of priority capital
projects.
 
Careful
consideration was given to the proposal to transfer £2.1m to
the General Revenue Reserve (GRR) and a further £100,000
between already established reserves.   The recommended changes to the reserves had
been assessed in consultation with Services and the main changes
were detailed in 5.4 of the report. 
Following these transfers the GRR would hold a balance of
£11.25m.
 
Whilst the transfer
to the General Revenue Reserve was welcomed, the pressures related
to building repairs, the Local Plan, planning appeals and the
transition for Local Government Reorganisation were recognised. It
was, therefore, recommended that transfers be made to the Angel
Centre Build Costs, Building Repairs, Local Plan, Transformation
– Local Government Reorganisation reserves from the General
Revenue Reserve. 
 
If these
recommendations were supported there would be an estimated balance
of £9.25m in the General Revenue Reserve on 31 March 2028
based on the current Medium Term Financial Strategy
projects.    Cabinet noted
that an estimated £3.5m was expected to be withdrawn from the
General Revenue Reserve in 2028/29 to cover various revenue
expenditure.
 
Due regard was given
to the financial and value for money considerations, the assessment
of risk and the legal implications.  In
recognition that the reallocation of resources would assist with
the achievement of corporate priorities, Cllr Boughton proposed,
Cllr Taylor seconded and Cabinet
 
RESOLVED:  That
 

(1)            
the transfer of reserves detailed in
Annex 1 and in 5.3 of the be approved; and
 

(2)            
the transfer of reserves detailed in 7.2
of the report be approved.