City of Edinburgh Council Order Confirmation 1996

2 General reserve fund

(1) Subject to subsection (2) below, the Council may create and maintain a fund (to be called “the general reserve fund”) and may apply it in defraying any expenditure which might be met out of the district rate.

(2) The Council may in any financial year pay into the general reserve fund such amounts as they think fit, so however that the general reserve fund shall not at any time exceed the sum produced by multiplying £20.00 by the relevant population of the Council’s area as determined in accordance with subsection (4AA) of section 83 of the [1973 c. 65.] Local Government (Scotland) Act 1973 (power of local authorities to incur expenditure not otherwise authorised).

(3) The sum mentioned in subsection (2) above shall, from time to time, be increased or decreased (as the case may be) by an amount which bears the same proportion to that sum as shall be borne by any increase or decrease in the index of retail prices to the figure shown therein for the month in which this Order was enacted; and in this subsection “the index of retail prices” means the general index of retail prices (for all items) published in the monthly publication of the Office for National Statistics known as “Monthly Digest of Statistics”, or any successor from time to time of that index.