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

Data, Monitoring and Citizen Science Officer

Durham County Council
Grade 10 £37,035 to £40,476 p.a. (Pay Award Pending)
We are looking for an organised and reliable individual to join our team here at the North Pennines National Landscape in Stanhope for a period of 15 Stanhope
Recuriter: Durham County Council

Enhanced Teaching Assistant

Durham County Council
£25,584 - £27,711 pro rata
Enhanced Teaching Assistant Grade 5, £25,584 - £27,711 pro rata 37 hours per week, Term Time only + 2 weeks Permanent     Required from 1st September Ferryhill
Recuriter: Durham County Council

Structures Commissioner

Derbyshire County Council
Grade 14 £53,166 - £59,080 per annum (Pay Award Pending)
We are seeking an experienced and strategic leader to join our team as the Structures Commissioner. Derbyshire
Recuriter: Derbyshire County Council

Rough Sleeper Outreach Officer - WMF2139e

Westmorland and Furness Council
£31,067 - £31,586
We have an excellent opportunity for a motivated candidate to apply for the role of Rough Sleeper Outreach Officer. Penrith, Cumbria
Recuriter: Westmorland and Furness Council

Customer Operations Assistant

Wyre Borough Council
£12.26 Per Hour
Marine Hall is a vibrant and dynamic venue dedicated to delivering exceptional experiences for our audiences and customers. Poulton-Le-Fylde, Lancashire
Recuriter: Wyre Borough Council
Linkedin Banner