Decision details

RESOLVED:

1. That it be NOTED that:

(i)            The savings achieved in year total £1.010m. 

(ii)          That the year-end position for the financial year 2014/15 is to increase the Council’s General Fund balance by £63k

(iii)         The increase in the general fund balance from £1.869m to £1.932m at the end of 2014/15.

(iv)         The closure of the Housing Revenue Account as a result of the successful stock transfer to Gloucester City Homes. (Paragraph 8.11 details proposed transfers to earmarked reserves for HRA balances). 

(v)          The Council has been required to make a deficit payment to the Gloucestershire Business Rates Pool as a result of losses at Tewkesbury Borough Council, as detailed in Section 7.

2.    That the transfers to and from earmarked reserves as below and detailed in sections 8 and 9 of this report be approved.

·         £1million to Environmental Liability Reserve

·         £400k to Major Repairs Reserve

·         £275k to Pension Liability reserve

·         £5k to Three Choirs Reserve

·         £14k to Members Allocation Reserve

·         £10k from Historic Buildings Reserve

·         £12.5k to Portfolio Reserve

·         £313k to Regeneration Reserve