Reserves Statement - 2012/13 Onwards
Reserve
General Fund General Reserve
Purpose and Use of Reserve
A working balance and contingency, current recommended
balance is £950,000. This also includes the rellocation of a
number of previously earmarked reserves to be used over the
next three years.
Balance at
1/4/2012
Updated
Budgeted
2012/13
Movement
Balance at
1/4/2013
£
£
£
2,049,920
Budgeted
Budgeted
Balance at
2013/14
2014/15
1/4/2014
Movement
Movement
£
£
£
(230,000) 1,819,920 (200,000) 1,619,920 (100,000)
Earmarked Reserves:
Balance at
1/4/2015
Budgeted
2015/16
Movement
Balance at
1/4/2016
£
£
£
1,519,920
0
0
Capital Projects
To provide funding for capital developments and purchase of
major assets. This includes the VAT Shelter Receipt.
1,819,469
Asset Management
To support improvements to our existing assets as identified
through the Asset Management Plan.
26,669
(15,000)
11,669
0
Benefits
To be used to mitigate any claw back by the Department of
Works and Pensions following final subsidy determination.
Timing of the use will depend on audited subsidy claims.
640,242
(30,000)
610,242
Big Society Fund
To support projects that communities identify where they will
make a difference to the economic and social wellbeing of the
area. Funded by a proportion of NCC element of second
homes council tax. Annual contributions to and from the
reserve will be determined as part of the budget process.
0
428,491
Carbon
Management
To fund revenue invest to save initiatives and projects within
the Carbon Management Plan.
21,180
Coast Protection
To support the ongoing coast protection maintenance
programme.
Common Training
To deliver the corporate training programme. Training and
development programmes are sometimes not completed in the
year but are committed and therefore funding is carried
forward in an earmarked reserve.
(527,441) 1,292,028
13,340 1,305,368
1,519,920
0
0
1,305,368
0
1,305,368
11,669
0
11,669
0
11,669
0
610,242
0
610,242
0
610,242
428,491
0
428,491
0
428,491
0
428,491
0
21,180
0
21,180
0
21,180
0
21,180
208,000
(181,000)
27,000
0
27,000
0
27,000
0
27,000
32,000
(15,000)
17,000
0
17,000
0
17,000
0
17,000
Reserves Statement - 2012/13 Onwards
Reserve
Purpose and Use of Reserve
Economic
Development and
Tourism
Earmarked from previous underspends on Economic
Development and Tourism Budgets along with funding
earmarked for Learning for Everyone.
Election Reserve
Established to meet costs associated with district council
elections, to smooth the impact between financial years.
Environmental
Policy
Housing
Updated
Budgeted
2012/13
Movement
Balance at
1/4/2013
£
£
£
Budgeted
Budgeted
Balance at
2013/14
2014/15
1/4/2014
Movement
Movement
£
£
£
Balance at
1/4/2015
Budgeted
2015/16
Movement
Balance at
1/4/2016
£
£
£
55,072
(26,233)
28,839
0
28,839
0
28,839
0
28,839
1,500
28,500
30,000
30,000
60,000
30,000
90,000
(90,000)
0
Earmarking of a previous underspend to meet future costs of
environmental policy initiatives.
20,090
(20,090)
0
0
0
0
0
0
0
Previously earmarked for stock condition survey and housing
needs assessment.
242,000
0
242,000
0
242,000
0
242,000
0
242,000
116,068
(116,068)
0
0
0
0
50,356
0
50,356
0
50,356
50,356
0
50,356
46,599
0
46,599
0
46,599
0
46,599
0
46,599
Investment Income:
The council disposed of its EIB bonds for a gain in 2011/12.
European
This reserve is required for accounting purposes to transfer
Investment bank
the part of the gain that relates to 2012/13.
(EIB) Premium
Land Charges
Balance at
1/4/2012
To Mitigate the impact of potential income reductions.
Legal & Democratic One off funding for Compulsory Purchase Order (CPO) work
and to undertake a review of the Constitution.
Services
0
Local Strategic
Partnership
Earmarked underspends on the LSP for outstanding
commitments and liabilities.
671,958
(590,230)
81,728
0
81,728
0
81,728
0
81,728
LSVT Reserve
To meet the cost of successful warranty claims not covered by
bonds and insurance following the housing stock transfer.
435,000
0
435,000
0
435,000
0
435,000
0
435,000
New Homes Bonus
Established for supporting communities with future growth and
development.
0
611,678
611,678
611,678 1,223,356
611,678
1,835,034
611,678
2,446,712
Reserves Statement - 2012/13 Onwards
Reserve
Organisational
Development
Purpose and Use of Reserve
To provide funding for organisation development to create
capacity within the organisation and address anomalies within
the pay structure.
Balance at
1/4/2012
Updated
Budgeted
2012/13
Movement
Balance at
1/4/2013
£
£
£
Budgeted
Budgeted
Balance at
2013/14
2014/15
1/4/2014
Movement
Movement
£
£
£
494,488
(494,488)
0
0
0
196,036
(196,036)
0
0
0
0
Balance at
1/4/2015
Budgeted
2015/16
Movement
Balance at
1/4/2016
£
£
£
0
0
0
This reflects the balance of Funding as at 31/03/12 on the
Partnership Budgets Revenues and Benefits Partnership project. This will be
0
0
utilised in 2012/13
Pathfinder
To help Coastal Communities adapt to coastal changes.
404,000
(281,107)
122,893
(38,371)
84,522
(19,020)
65,502
(65,502)
0
Planning - Revenue
Previously unspent HPDG for use on related revenue projects,
timing to be confirmed.
110,835
(66,500)
44,335
(18,000)
26,335
0
26,335
0
26,335
Regeneration
Projects
Carry forward of underspends relating to
Regeneration Projects.
37,837
0
37,837
0
37,837
Restructuring &
Invest to Save
Proposals
To fund one-off redundancy and pension strain costs and
invest to save initiatives. Transfers from this reserve will be
allocated against savings proposals as business cases are
approved. Timing of the use of this resrve will depend on
when business cases are approved.
468,216
9,872
478,088
0
478,088
0
478,088
0
478,088
23,339
0
23,339
0
23,339
0
23,339
0
23,339
15,000
0
15,000
Sports Hall
To support renewals for sports hall equipment. Amount
Equipment & Sports transferred in the year represents over or under achievement
of income target.
Facilities
37,837
37,837
The pier
To be used to support the costs of works to Cromer pier.
15,000
0
15,000
0
15,000
Whistle blowing
Commissioning investigation activity as required.
10,000
0
10,000
0
10,000
0
10,000
0
10,000
398,647 6,883,869
522,658
7,406,527
456,176
7,862,703
Total Reserves
8,195,874
(1,710,652) 6,485,222