| Long-Term Provisions | Insurance Provision £000's | Non-Domestic Rate Appeals £000's | Other Provisions £000's | Total £000's |
|---|---|---|---|---|
| Balance at 31 March 2024 | (1,505) | - | (1,486) | (2,991) |
| Additional provisions made in 2024/25 | (177) | - | (2) | (179) |
| Amounts used in 2024/25 | - | - | 604 | 604 |
| Balance at 31 March 2025 | (1,682) | - | (884) | (2,566) |
Provisions have been made in the current and previous financial years to set aside amounts to meet future expenditure. These provisions are made at the point where a given liability arises but where the expenditure relating to the liability has not yet been made. The balance on the provisions account therefore reflects the balance of unpaid known liabilities which have already been charged to the council's revenue account. When the liability is paid the expenditure is charged against the provision. The provisions shown above include the material items detailed below:
This provision is used to provide funding to cover liability claims, risk management and "all risks" cover for specified equipment in council establishments. On the basis of professional advice from the council's insurance brokers, officers are of the view that all known insurance risks are provided for.
This provision has been set up to cover potential losses following successful appeals by Business Ratepayers resulting in a reduction in their rateable values and consequent reduction in the collectable amounts.
Movements in the council's usable reserves are detailed in the Movement in Reserves Statement, Note 7 Adjustments between Accounting Basis and Funding Basis under Regulations and Note 8 Movements in Earmarked Reserves.