Agenda item

There was nothing further to add to the report.

It was clarified that the terms “surplus” and “underspend” were both used and there was a request to use the same term for consistency and to remove any confusion.

There was a concern regarding the re-naming of the Operational Effectiveness Reserve to that of “Aldern House Reserve”. It was clarified that this reserve is for the current Aldern House and the operational effectiveness for Aldern House which is generally for unallocated money for maintenance and works on the current property.

It was noted that the re-naming of the budget head was not intended to imply any presumptions of the Authority in relation to the current or future intentions of the property or any other property. This reserve can be drawn upon for a number of operational spends and is an unspecific reserve to drawn down if needed. 

It was confirmed that all of the funds are currently invested and outsourced to an investment company, our funds are lodged with North Yorkshire Council and the interest amount referred to in the report is a product of this investment. 

The recommendation as set out in the report was moved, seconded, voted on and carried.

RESOLVED:

1.     That the specific reserve appropriations of £0.32m shown in Appendix C of the report are approved.

2.     That the outturn position, variance analysis for 2023/24 and reserve movements be noted (as set out in appendices A, B and D in the report).