Resolved
(1) That the outcome of the review of reserves and the forecast over the Medium Term Financial Statement be noted.
(2) That the following feedback be given to Executive:
• That having enquired if sufficient reserves were held in transformation and redundancy to mitigate costs involved in light of the separation of joint services between Cherwell District Council and Oxfordshire County Council, the Committee was assured that the costs of separation, if any, were currently unknown and if necessary, funds could be made available from reserves to support costs of separation in 2022/23. If any potential ongoing costs of separation were identified, these would be picked up as part of the 2023/24 budget process and a further review of the level of reserves held by the Council would also take place.