English local authority reserves
Reserves are important to local authorities but with increased financial pressures are CFOs having to use the money to continue service provision?
To better understand the reasons local authorities hold reserves, what is driving changes in reserves levels and what authorities intend to use their reserves for CIPFA undertook a survey of local authority finance officials and combined this with existing data on council reserves levels.
According to survey data, at 31 March 2014, local authorities held £3.7bn in general reserves and balances. This CIPFA Briefing summarises the results of our work, including comments from survey respondents.