Decision details

The Council gave consideration to a report providing information on the balances earmarked within the General Fund, transfers and funds used during 2025-26 and any new earmarking requested. There were two new earmarking proposals which required approval.

Decision

The Council –

1.    approved the Policy on Year End Flexibility as included in Appendix 1, including the approval of one new category for the automatic carry forward of unspent Ferries grant to allow for smoothing of the income over multiple years to be utilised when large value maintenance spends are required;

2.    approved the three new earmarking proposals totalling £2.198m, supported by the business cases in Appendix 2; noting, the Executive Leadership Team (ELT), in consultation with the Leader, Deputy Leaders and relevant Policy Lead, would have delegated authority to authorise expenditure from the contingency for increased costs arising from the conflict in Iran. Any related virements would be reported retrospectively through routine financial monitoring;

3.    noted the £12.988m of earmarked balances that qualified for automatic carry forward in line with the Policy on Year End Flexibility as outlined within Appendix 3;

4.    noted that a review of Earmarked Reserves was carried out as part of the year end processes, resulting in the release of £0.648m back to the General Fund; and noted expiry dates were also reviewed and extended where appropriate as part of this exercise; and

5.    noted previously approved earmarked reserves as outlined within Appendix 4 with a balance of £95.047m as at 31 March 2026.

(Reference: Report by Section 95 Officer dated 12 June 2026, submitted)