Following the Police Grant Settlement for 2018/19 it is now a requirement from the Home Office to publish a standalone Reserves Strategy. This strategy will be updated on a regular basis.
This document covers the four years to 31st March 2022 and includes details of the reserves currently held, the purpose of the reserves and the projected balances by 31st March 2022.
It is vital that the OPCC holds reserves to cover uncertainty regarding future funding and pay rises, and to provide a contingency for major incidents. Reserves can also provide flexibility in managing the budget and funding future investment.