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Collection Fund Estimated Outturn 2019-2020
23/01/2020 - Collection Fund Estimated Outturn 2019-2020
1. That the payments to the precepting authorities of their share of the Council Tax surplus in equal instalments be approved.
The estimated outturn in 2019-2020 is a cumulative surplus of approximately £526,000. Based on their proportion of the 2019-2020 council tax bill, as approved by Council in March 2019 the amounts are as follows:
• City of Wolverhampton Council £465,000
• West Midlands Police and Crime Commissioner £44,000
• West Midlands Fire and Rescue Authority £17,000
2. That the apportionment of the payments from the precepting authority of their share of the Business Rates deficit, also referred to as Non-Domestic Rates, in equal instalments be approved.
The estimated outturn in 2019-2020 is a cumulative deficit of approximately £122,000; this is as a result of a cumulative surplus totalling £544,000 brought forward from 2018-2019 and an estimated deficit in 2019-2020 totalling approximately £666,000. As prescribed by legislation the amounts are as follows:
• City of Wolverhampton Council £140,000 surplus
• West Midlands Fire and Rescue Authority £1,000 deficit
• Central Government £261,000 deficit
3. That authority be delegated to the Cabinet Member for Resources, 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 2020.