Earmarked Reserves for Elections.

Question

Each year our Town Council includes in its budget the cost of a full election in case we have a by-election or a scheduled full (multi-ward) election. Like many parish councils contested full or by-elections have become less frequent (unfortunately but that's another issue entirely).
Rather than holding the cost of a full election in our annual budget, I'm proposing that we establish an earmarked reserve for Elections, with the budget contributing 25% of the cost of a full election each year. At the end of the cycle, should a full election be held adequate funds are available. If there is a contested by-election  the costs of that would be replaced the following year in the EMR either through the budget or a transfer from reserves.

I've done some research and it appears this is exactly the approach that other parish councils do (Middlewich, Knutsford and Frodsham Town Councils for example).
The net benefit is to free up a significant sum each year which can be used for other projects.
But are there any downsides to this that I haven't thought of ?

Answer 1

That is a perfectly sensible and logical approach, difficult to comprehend how this has persisted for so long (but not really) - are you new to the council?

"Habits" are hard to break, the longer they persist, the harder they are to break (with critical thinking and logic.)

The only input I would offer is that it is not essential, nor by any means the only option, to spend a 'saving', it is just as credible to reduce your precept by the value of the new and improved approach...