Laura Sharman 01 July 2015

Reserves already allocated for use by councils, shows survey

The majority of councils have already earmarked their cash reserves for specific purposes, new research has revealed.

A survey by the Chartered Institute of Public Finance and Accountancy (CIPFA) found that while local authorities have increased their levels of reserves over the last parliament, 80% was already allocated to meet known or predicted spending requirements.

The survey also revealed that 94% of local authorities would be using their reserves, with 40% saying they are increasing reserves to meet the financial pressures of Government policy.

Rob Whiteman CIPFA CEO said: ‘Local authorities know that using reserves to provide for future services, protect against risks and manage the transformation of services is the right way for local authorities to manage their finances in the long-term interests of their communities and the country.

‘Reserves are a vital part of prudential financial management and councils should be congratulated that they have sensibly been building up their reserves to both enable them to safeguard future services for local communities and to protect against both known and unknown risks.’

In April 2014, councils held £19.8bn in reserves, with £13.8bn set aside for future local public spending and £2.3bn earmarked for schools or public health projects.

SIGN UP
For your free daily news bulletin
Highways jobs

Graduate Trainee Electric Vehicle Infrastructure

North Yorkshire Council
£25,183 - £30,559
Could you help us deliver Electric Vehicle infrastructure to support this new transformation mode of transport. Greenwich, London (Greater)
Recuriter: North Yorkshire Council

Contracts and Strategy Officer

Royal Borough of Greenwich
£41,442 - £44,331
Royal Greenwich is on the up! Having achieved a 3.8% increase in our recycling rate this year Greenwich, London (Greater)
Recuriter: Royal Borough of Greenwich

Senior Developer

Royal Borough of Greenwich
£52,584 - £69,068
Royal Greenwich is a vibrant borough, with a rich history and diverse community. Greenwich, London (Greater)
Recuriter: Royal Borough of Greenwich

SEND Operations Assistant - 2 year FTC

Essex County Council
£25081 - £26679 per annum + + 26 Days Leave & Local Gov Pension
SEND Operations AssistantFixed Term, Full Time£25,081 to £26,679 Per AnnumLocation
Recuriter: Essex County Council

Welfare Benefits & Money Advice Caseworker

Sandwell Metropolitan Borough Council
Band E SCP 18-25 (£30,559 - £35,235 per annum
We have an exciting opportunity for a skilled individual to join our Welfare Rights Team Sandwell, West Midlands
Recuriter: Sandwell Metropolitan Borough Council
Linkedin Banner