Issue - meetings

Collection Fund Estimated Outturn 2021-2022

Meeting: 08/12/2021 - Cabinet (Item 5)

5 Collection Fund Estimated Outturn 2021-2022 pdf icon PDF 292 KB

[To present the estimated outturn for Council Tax and Business Rates, also referred to as Non-Domestic Rates (NDR), transactions on the Collection Fund in 2021-2022]

 

Additional documents:

Decision:

1.      That the estimated outturn for Council Tax in 2021-2022 is a cumulative deficit of approximately £3.5 million which includes the carry forward of the in-year 2020-2021 deficit, which the Government confirmed could be spread over three years from 2021-2022 to 2023-2024.

 

2.      That the estimated outturn for Business Rates, also referred to as Non-Domestic Rates, in 2021-2022 is a cumulative deficit of approximately £15.4 million; this is as a result of a cumulative deficit totalling £6.1 million brought forward from 2020-2021, which the Government confirmed could be spread over three years from 2021-2022 to 2023-2024, and an estimated deficit in 2021-2022 totalling approximately £9.3 million.

 

3.      That authority be delegated to the Leader of the Council, in consultation with the Director of Finance, to confirm any final changes to the forecast outturn reflecting any further information received ahead of the statutory deadline of 31 January 2022.

 

4.      That authority be delegated to the Director of Finance to confirm and arrange the final payments to the precepting authorities.

 

5.      That it be noted that at the point of writing the Council awaits confirmation of the Government’s view regarding the spread of the 2020-2021 deficit. The information provided in this report are therefore estimates at this stage and are subject to change following the publication of guidance as part of the Provisional Local Government Finance Settlement.

 

 

Minutes:

Councillor Ian Brookfield presented the report on the estimated outturn for Council Tax and Business Rates, also referred to as Non Domestic Rates (NDR), transactions on the Collection Fund in 2021-2022.  The proposals would inform the budget setting process for 2022-2023 for the Council and precepting bodies.

 

Resolved:

1.    That the estimated outturn for Council Tax in 2021-2022 is a cumulative deficit of approximately £3.5 million which includes the carry forward of the in-year 2020-2021 deficit, which the Government confirmed could be spread over three years from 2021-2022 to 2023-2024.

 

2.    That the estimated outturn for Business Rates, also referred to as Non-Domestic Rates, in 2021-2022 is a cumulative deficit of approximately £15.4 million; this is as a result of a cumulative deficit totalling £6.1 million brought forward from 2020-2021, which the Government confirmed could be spread over three years from 2021-2022 to 2023-2024, and an estimated deficit in 2021-2022 totalling approximately £9.3 million.

 

3.    That authority be delegated to the Leader of the Council, in consultation with the Director of Finance, to confirm any final changes to the forecast outturn reflecting any further information received ahead of the statutory deadline of 31 January 2022.

 

4.    That authority be delegated to the Director of Finance to confirm and arrange the final payments to the precepting authorities.

 

5.    That it be noted that at the point of writing the Council awaits confirmation of the Government’s view regarding the spread of the 2020-2021 deficit. The information provided in this report are therefore estimates at this stage and are subject to change following the publication of guidance as part of the Provisional Local Government Finance Settlement.