Issue - meetings

RESOLVED –

That a one-off re-distribution of £550,000 from the Capital Improvement Reserve be made to the three constituent authorities at the end of the 2016/17 financial year and that the re-distribution be carried out on the same basis as normal distributions of surpluses.

The Bereavement Services Manager and the Clerk and Treasurer submitted a report to seek the Joint Committee’s approval to re-distribute part of the uncommitted Capital Improvement Reserve between the three constituent authorities at the end of the 2016/17 financial year.

At the meeting of the Committee on 12 December, 2016, it was highlighted that the projected balance of the Capital Improvement Reserve at the 2016/17 year end would be £783k. It was agreed to reduce the contributions made to this reserve from £162k to £90k leaving a substantial balance going forward. Discussions had been held with the Crematorium Manager and no additional major capital improvement works had been identified in the near future.

The report proposed to re-distribute £550k to the constituent authorities leaving a project balance of £233k for 2016/17, increasing to £503k by 2019/20. It was proposed to carry out the re-distribution on the same basis as normal distributions of surpluses.

RESOLVED –

That a one-off re-distribution of £550,000 from the Capital Improvement Reserve be made to the three constituent authorities at the end of the 2016/17 financial year and that the re-distribution be carried out on the same basis as normal distributions of surpluses.

REASON FOR DECISION

To ensure that the Crematorium has appropriate reserves to meet is capital improvement needs in the future.