Agenda item

The Head of Finance introduced the report which followed on from the 2020/21 outturn report approved by the Authority on the 21 May 2021 (Minute number 35/21), and proposes a reallocation of current cash Reserves that were set aside to finance the impact of the coronavirus pandemic. The reallocations would be as follows:

a)    Retain the Covid Reserve at the lower value of £683k;

b)    Re-allocate £275k from the Covid Reserve to the Restructuring Reserve as was approved in principle by Members in the Authority report of 4 September 2020 (Minute number 64/20).

c)    Re-allocate £130k back to the General Reserve to return the balance to £350k.

The Chair congratulated the Finance Team on the care they had taken to keep the Authority in a good place but there were still external uncertainties such as the future Defra settlement and the Landscapes Review.

The recommendation, as set out in the report, was moved, seconded put to the vote and carried.

RESOLVED:

1.    That £275k of the Covid Reserve is to be re-allocated to the Restructuring Reserve as approved at the Authority meeting on 4September 2020.

2.    That £130k of the Covid Reserve be re-allocated to the General Reserve to return the balance to a minimum of £350k.