earmarked reserves
Bromley and Tower Hamlets councils are currently using earmarked reserves to manage projected budget overspends for the 2025/26 financial year.
Bromley Council projected a £16.16 million budget overspend for the 2025/26 financial year in March 2026, which was later updated to a projected £10.7 million overspend in June 2026. The council plans to utilise earmarked reserves, funds set aside for specific future purposes, to manage this, with a portion of one-off earmarked reserves redesignated to fund the 2025/26 overspend.
Tower Hamlets Council is facing a projected £18.6 million General Fund overspend for 2025-26, with mitigation measures including the use of parking reserves, as highlighted in a Q3 Budget Monitoring report in March 2026. Bromley Council's general reserves are projected to decrease by £12,018,000 to £7,982,000 by March 2026 due to the overspend, according to a report to the Executive committee.
No upcoming meetings are currently scheduled to discuss earmarked reserves, based on the provided information. Earmarked reserves are funds set aside by an organisation for specific future purposes or risks, which councils can re-designate under certain circumstances to address financial pressures.
Key facts
- Bromley Council projected a £10.7 million overspend for the 2025/26 financial year in June 2026. Source
- Bromley Council plans to utilise earmarked reserves to maintain an overall balance of £20 million for the 2025/26 financial year. Source
- Tower Hamlets Council projected an £18.6 million overspend on its General Fund for 2025-26 in March 2026. Source
- Tower Hamlets Council is using parking reserves as a mitigation measure for its 2025-26 overspend. Source
- Bromley Council's general reserves are projected to decrease by £12,018,000 to £7,982,000 by March 2026. Source
About this summary
This summary was written automatically from our published stories and the council meeting records they draw on. It describes what councils have discussed and decided; it does not take a view on any decision. Each key fact links to the story it comes from. Updated 30 September 2026. Spotted a mistake? Email community@opencouncil.network.