Resolved –

(1)          That Members have regard to Council Document “V” in setting the budget, and in particular note the conclusions that:

• the estimates presented to Council are sufficiently robust

• the reserves are adequate for the 2019/20 proposed budget

·         the projected corporate reserves, on current estimates, are adequate in the medium term, subject to the implementation of the rest of the proposed financial plan and identification of further proposals to mitigate the projected structural gap of £20-25m.

(2)          As with all budgets there is the potential for amendments to be proposed/agreed which could change the overall package of proposals. In that respect, it should be highlighted that this statement would be amended or added to if a decision was proposed that lead to the Council’s reserves falling below their recommended level. In addition, any other amendments would be considered against the scale of the overall budget and depending upon the extent and nature, may result in a revised statement.

Action:            Director of Finance