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May 16
13:36
2023
Details
Fire and Rescue Authorities (FRAs) can keep part of their funding in financial reserves to:
- help manage financial risk
- fund major future costs, such as change programmes aimed at improving services to the public
Usable financial reserves are split into:
- resource - these include a general fund to cover unforeseen pressures and earmarked reserves which are held for a specific purpose
- capital - these are ring-fenced for capital investment
As at March 2020, standalone Fire and Rescue Authorities resource reserves stood at 496 million. This is equivalent to 36% of their core spending power.