Issue - meetings

Consideration was given to a report on the proposed adoption of a formal policy in respect of earmarked reserves and provisions. It was recognised as best practice by both the Chartered Institute of Public Finance and Accountancy and the Audit Commission that such a policy should be adopted.

RESOLVED:

(a)       that the policy on earmarked reserves and provisions as attached at appendix A to the report be approved and adopted; and

(b)       that the policy be implemented as part of the final accounts process for 2008/2009.