Financial Reserves policy

Hathern Parish Council 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:

o undertaking essential repairs or maintenance work.

o undertaking unexpected administrative duties or to challenging or deflecting future threats to the village, its people and its environment.

o making provision for redundancy obligations and any exceptional future costs of investigations and disciplinary hearings.

o 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 that are associated with the Council’s Strategic Plan 2007 – 2011 but not specifically identified in the current year’s budget . Currently this figure is £11,400

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

Hathern Parish Council
10th August 2009