Meeting: 15/03/2016 - Audit Committee (Item 37)
37 Balances and Reserves Statement 2016/17 
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Minutes:
The Balances and Reserves Statement provided detail on the Council's approach to the management and measurement of unallocated balances.
The Committee was informed that the recommended range for unallocated balances had increased to £15m to £31m in 2016/17, with the overall upper limit for balances £14m higher at £45m. This was to take account of the planning drawdown from reserves included in the Medium Term Financial Forecast from 2016/17.
Reference was made to the key risks which determined the need to hold balances and reserves, particularly around supplier risk in relation to social care contracts.
RESOLVED –
1. That the contents of the report be noted.