Financial Reserves policy

Reserves have been set aside to provide the Council with financial stability, as follows:

Exceptional Expenditure Fund – to meet the costs of exceptional expenditure that enable the Council to meet its legal, statutory and proper duties or responsibilities. This includes:

• undertaking essential repairs or maintenance work; undertaking unexpected administrative duties or to challenging or deflect future threats to the village, its people and its environment; making provision for redundancy obligations and any exceptional future costs of investigations and disciplinary hearings.
• providing for short term cash flow difficulties.

Currently this figure is £8,500.

In addition funds have been designated as a means of enabling the Council to develop its principle activities – in particular:

Development Fund – to meet the costs of future expenditure associated with the Council’s Strategic Plan 2007 – 2011.

Currently this figure is £10,547

The Council will review its current level of reserves and designated funds at least twice a year

Hathern Parish Council 2nd June 2008