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Originally Posted by Sephiroth
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343 councils in the UK, and if you take out the GLA, their reserves are £1.1 billion, which works out (on average) as £3.2 million per council - not such a huge reserve (which they use to pay for stuff whilst waiting for Central Government money to arrive).
For instance, my local councile (Leeds, population of around 750k)
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Overall the council’s usable reserves have risen from £280m in 2017/18 to £312m in 2018/19, an increase of £32m. The majority of these £312m of useable reserves are ring
fenced (£252m) and are not available to support general expenditure. The main ring fenced reserves as at 31st March 2019 are:
o School based reserves £22m;
o Revenue and capital grants received in advance of planned expenditure £142m;
o Housing Revenue Account reserves £22m, statutorily ring fenced to the provision
of local authority housing;
o Major repairs reserve £24m, ring fenced to major repairs to council houses;
o Useable Capital Receipts reserve £42m, to finance capital expenditure, partly ring
fenced to council houses.
The remaining £59m of reserves is made up of the £28m General Fund reserve and
£31m of earmarked reserves.
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They have to have some reserves, because, as we have found recently with floods, etc., "stuff happens"...