RESOLVED:
1. It be noted that:
(i) The savings achieved in year total £1.174m
(ii) The year-end position for the financial year 2014/15 is to decrease the Council’s General Fund balance by £246k
(iii) The General Fund balance has decreased from £1.881m to £1.635m at the end of 2015/16
(iv) That the business rates pool has returned a surplus of £173k to the City Council.
2. The transfers to and from earmarked reserves as below and detailed in section 8 of this report be approved.
· £710k to adopted land reserve
· £291k to VAT Shelter reserve
· £200k to Business Rates reserve
· £5k from Members Allocation Reserve
· £13k to Portfolio Reserve
· £197k to Regeneration Reserve
· £50k to Trading Development Reserve