A report by the Director of Finance set out the elements which made up the Insurance Fund, the cost of running the Risk and Insurance Section and the Budget for 2012/13.  The Insurance Fund Budget was one element of the Council Budget setting process.

RESOLVED:  That

(1)  the Insurance Fund Budget 2012/13 be agreed;

(2)  the Budget Surplus Reserve of £136,030 be used to limit the increase in cost to the General Fund for 2012/13; and

(3)  savings to schools (subject to Academy transfers) of £226,000 and increased costs to the General Fund of £20,000 for 2012/13 be agreed.