URL: https://wolverhampton.moderngov.co.uk/ieDecisionDetails.aspx?ID=9752

Decision Maker: Cabinet

Outcome: Recommendations Approved

Is Key Decision?: Yes

Is Callable In?: Yes

Purpose: The purpose of this report is to inform Cabinet of the Council’s resources currently held as reserves and provisions as 31 March 2025, taking account of the outturn position for 2024-2025.

Content: 1.      That the transfers to/from provisions as detailed in Table 5 to the report be approved.   2.      That the contributions to/from earmarked reserves (not previously approved) as detailed in section 7 of the report be approved.   3.      That expenditure from provisions for their purposes as set out in Appendix 2 and 3 to the report, up to the value held in each provision as at 31 March 2025 be approved.   4.      That authority be delegated to the Cabinet Member for Resources in consultation with the Section 151 Officer and the relevant Director/Deputy Director to allocate funds from reserves as detailed in Appendix 1 to the report.   5.      That the level of the Council’s reserves and provisions as at 31 March 2025 and the purposes for which they are being held, as detailed in Appendix 1, 2, and 3 to the report be noted.   6.      That it be noted, the recommendations detailed in the report are in line with the Reserves Strategy approved by Council on 26 February 2025.   7.      That it be noted, the allocation of funding from all earmarked reserves would be reported to Councillors in future reports.   8.      That it be noted, the Resources and Equality Scrutiny Panel would scrutinise the use of reserves as part of the budget setting process as in previous years.   9.      That it be noted, the Section 151 Officer considers that the overall level of all reserves and provisions are sufficient to meet the likely level of obligations to be met from reserves and provisions in the short term.   10.   That it be noted, the figures quoted in the report are still subject to statutory audit by Grant Thornton as part of the 2024-2025 accounts closedown process.   11.   That it be noted, the Performance and Budget Outturn 2024-2025 report on this same agenda assumes the use of reserves as outlined in this report.  If the reserves approvals as outlined in section 7 of the report were not approved, then this would impact on the outturn position outlined in the Performance and Budget Outturn Report.

Date of Decision: June 11, 2025