Revenue Virements

Motion as voted upon

To approve the virement set out in section 2 transferring the amount specified for the
reasons given.

Revenue virements requested for the following items:
a) Transport fund - The Fleet Management Services reported an underspend against
depreciation charges of £685,455. The service asked to utilise this underspend with
an additional contribution to the vehicle replacement reserve to assist in managing the
increasing pressure on the transport fund arising from significant inflation on purchase
costs. Where possible this funding will be used to purchase “green” vehicles.
b) Insurance - Insurance budget outturn had unspent funds of £906,707, and this is
requested to be transferred into the specific insurance reserve. The reserve has
reduced as claim excesses have been met in recent years and this transfer will
replenish the reserve to meet future liabilities.