Financial Reserves
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Posts
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Clearly current Wrexham Council Conservatives have been jumping this morning to get an amended statement, yet the key element is that they have been a major contributory part in the development of the current Wrexham reserves.
Interestingly they could have looked at the information in the first article and clarified the line for Earmarked Reserves of £33,484,000 – surely if this is ‘earmarked’ then it is not free reserves – what are the ‘earmarked’ projects this funding is to be used for?
Capital Grants unapplied will come with conditions from Welsh Government that if the funding is not used for the intended purpose then they could claw back £7,037,000 even if not committed does not make it free reserves as there is a defined use.
It does not bode well if the Wrexham Conservatives can’t give a justification for their own actions – they should not hide behind pre-election period for not responding as this is public information.
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