Issue - meetings

To consider a report of the Deputy Leader of the Council & Cabinet Member for Resources, Commissioning and Governance.

The purpose of the report is to provide an update of the annual review of the Council’s Reserves Policy following the reporting of the Council’s 2020/21 outturn position

The report needs to be read in conjunction with the Medium Term Financial Plan Update and Cabinet Response – Responding to Our Medium Term Financial Plan reports presented elsewhere on this agenda.

The Cabinet is recommended to:

·         Note the annual review of Council’s 2021/22 Reserves Policy including the level and rationale for the reserves held;

·         Approve the creation and reclassification of earmarked reserves held in line with the recommended amounts; and 

·         Approve the proposed 2021/22 Reserves Policy.

Officer contact: Jonathan Davies on 0161 218 1025 or email jonathan.davies@stockport.gov.uk

The Deputy Leader of the Council and Cabinet Member for Resources Commissioning & Governance submitted a report (copies of which had been circulated) providing an update on the Council’s Reserves Policy following the reporting of the Council’s 2021/21 outturn position.

RESOLVED – (1) That the annual review of Council’s 2021/22 Reserves Policy including the level and rationale for the reserves held be noted.

(2) That approval be given to the creation and reclassification of earmarked reserves held in line with the recommended amounts.

(3) That approval be given to the proposed 2021/22 Reserves Policy.

To consider a report of the Corporate Director (Corporate and Support Services) and Deputy Chief Executive

The report provides the outcome of the annual review of the Council’s Reserves Policy following the reporting of the Council’s 2020/21 outturn position.

The Scrutiny Committee is recommended to comment on and note the report.

Officer Contact: Jonathan Davies on 0161 218 1025 or email: jonathan.davies@stockport.gov.uk

The Corporate Director (Corporate and Support Services) and Deputy Chief Executive submitted a report (copies of which had been circulated) providing the outcome of the annual review of the Council’s Reserves Policy following the reporting of the Council’s 2020/21 outturn position.

The Cabinet Member for Resources, Commissioning and Governance (Councillor Tom McGee) attended the meeting to respond to questions from the Scrutiny Committee.

The following comments were made/issues raised:-

·         It was clarified how the earmarked reserves were arrived at.

·         More information was requested on the Airport Reserve and in particular the £7.386m of resources which had been realigned to mitigate the financial scarring of the Covid-19 pandemic.

·         A Member highlighted that the Capital Investment Reserve – Merseyway had been reduced by £3.820m and realigned to the Airport Reserve due to the project being awarded grant funding matching 100% of the funding bid from the Future High Street Fund.

·         A Member enquired as to the reasons behind the comparative high level of redundancy costs.

·         The new Climate Action Now Reserve would be reviewed as to whether the right level of resources had been aligned to this reserve.

RESOLVED – That the report be noted.