Appendix D
Reserves Statement - 2012/13 Revised Budget
Reserve
Purpose and Use of Reserve
Balance at
1/4/2012
£
General Fund General 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.
Revised Budget
Balance at
2012/13
31/3/2013
Movement
£
2,049,920
£
(266,524) 1,783,396
0
Earmarked Reserves:
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
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
(99,100)
541,142
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
639,625
639,625
Carbon
Management
To fund revenue invest to save initiatives and projects within
the Carbon Management Plan.
21,180
0
21,180
Coast Protection
To support the ongoing coast protection maintenance
programme.
208,000
(208,000)
0
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.
32,000
(4,000)
28,000
Economic
Development and
Tourism
Earmarked from previous underspends on Economic
Development and Tourism Budgets along with funding
earmarked for Learning for Everyone.
55,072
(26,233)
28,839
Election Reserve
Established to meet costs associated with district council
elections, to smooth the impact between financial years.
1,500
28,500
30,000
Environmental
Policy
Earmarking of a previous underspend to meet future costs of
environmental policy initiatives.
20,090
(20,090)
0
Housing
Previously earmarked for stock condition survey and
housing needs assessment.
242,000
0
242,000
(486,940) 1,332,529
Appendix D
Reserves Statement - 2012/13 Revised Budget
Reserve
Purpose and Use of Reserve
Balance at
1/4/2012
£
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
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
Revised Budget
Balance at
2012/13
31/3/2013
Movement
£
£
116,068
(84,494)
31,574
50,356
(1,380)
48,976
46,599
(3,506)
43,093
Local Strategic
Partnership
Earmarked underspends on the LSP for outstanding
commitments and liabilities.
671,958
(615,230)
56,728
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
New Homes Bonus
Established for supporting communities with future growth
and development.
0
611,678
611,678
Organisational
Development
To provide funding for organisation development to create
capacity within the organisation and address anomalies
within the pay structure.
494,488
(394,911)
99,577
196,036
(196,036)
0
This reflects the balance of Funding as at 31/03/12 on the
Partnership Budgets Revenues and Benefits Partnership project. This will be
utilised in 2012/13
Pathfinder
To help Coastal Communities adapt to coastal changes.
404,000
(198,175)
205,825
Planning - Revenue
Previously unspent HPDG for use on related revenue
projects, timing to be confirmed.
110,835
(56,196)
54,639
Regeneration
Projects
Carry forward of underspends relating to
Regeneration Projects.
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
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
23,339
(6,500)
16,839
The pier
To be used to support the costs of works to Cromer pier.
15,000
0
15,000
Whistle blowing
Commissioning investigation activity as required.
10,000
0
10,000
Total Reserves
8,195,874
(1,392,640) 6,803,234