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Lib Dems call for report into County’s reserves, underspends and contingencies

February 28, 2011 1:41 PM

Leicestershire Liberal Democrats have called for a report into reserves, underspends and contingencies held by the County Council. The report was asked for by Lib Dem members of the County's Budget and Performance Monitoring Panel at its meeting on the 28th Feb.

Keith Lynch, Lib Dem finance spokesman has asked for a detailed report on the causes and uses of underspends, reserves and contingencies for the last five years.

Keith said: "during our work on the budget it was clear that the council is fortunate to be in a strong financial position, but the persistent line that reserves and contingencies are used just doesn't seem to be justified. Our research suggests that the County Council's earmarked reserves actually increase year on year rather than decline. We feel that this needs to be looked into further and I have asked for a report, and am pleased that members and officers supported me."