The majority of this investment – £18.73million – will be funded directly from the authority’s earmarked reserves, with borrowing used to cover the rest. A report by chief financial officer Rob Sarfas said £10.5million was allocated for vehicles and £12.09million for the estates programme. The planned expenditure will see the authority’s overall and earmarked reserves drop significantly. The finance officer said a review was under way to assess whether all the planned capital spending in future years remains a priority. He added that he must produce an annual report when the budget is set, giving his professional opinion on whether the authority’s reserves are adequate.