Issue - meetings

To consider a report of the Cabinet Member for Finance & Resources.

This report deals with the forecast Collection Fund outturn position for 2022/23, the setting of the Council Tax Taxbase for 2023/24 and also presents a forecast for Business Rates income expected in 2023/24.These items form an integral and important part of the Council’s budget setting and MTFP process.

(1) It is recommended that the Cabinet:

·         Declare a provisional forecast outturn Collection Fund surplus of £4.250m in 2022/23 relating to a Council Tax surplus of £0.325m and Business Rates surplus of £3.925m subject to the delegations below;

·         Declare a provisional forecast outturn Collection Fund surplus to be appropriated to the Council’s General Fund in 2023/24 of £4.160m relating to a Council Tax surplus of £0.274m and Business Rates surplus of £3.886m subject to the delegations below;

·         Note that the declared position will be offset by Section 31 grants received for CARF (Covid Additional Relief Fund) from Government of £5.293m;

·         Note that the declared Collection Fund position will be additionally offset by a requirement to return £4.479m of S31 grants received in 2022/23;

·         Note the proposal for the Council Tax Discretionary Hardship Fund as set out in the Council Tax and Business Rates Discounts Annual Review report using the declared 2022/23 surplus to offset forgone Council Tax income as a result;

·         Note the 2023/24 Council Tax Taxbase for budget setting purposes of 97,533.3 Band D equivalent dwellings. The Council’s final 2023/24 Council Tax Taxbase will be presented for approval to the Council meeting on 12 January 2023;

·         Note the 2023/24 Business Rates budget forecast subject to the completion of the NNDR1 (Business Rates budget) to be submitted to Government by 31 January 2023; and

·         Note that additional one-off resources identified are to be reviewed through the MTFP and 2023/24 budget setting processes following the Provisional Local Government Finance Settlement in December.

(2) It is recommended that the Cabinet delegates the following decisions to the Deputy Chief Executive in consultation with the Cabinet Member for Finance and Resources:

·         The decision to change the provisional 2022/23 Collection Fund forecast outturn position prior to declaring the position on 31 January 2023 as required by legislation;

·         The decision to continue in the Greater Manchester Business Rates pooling arrangement; and

·         The decision to vary the Business Rates forecast presented in Table 8 linked to the submission of the NNDR1 (Business Rates budget) to Government.

Officer contact: Jonathan Davies on 0161 218 1025 or by email at jonathan.davies@stockport.gov.uk

The Cabinet Member for Finance & Resources (Councillor Malcolm Allan) submitted a report (copies of which had been circulated) detailing the forecast Collection Fund outturn position for 2022/23, the setting of the Council Tax Taxbase for 2023/24, and a forecast for Business Rates income for 2022/23.

RESOLVED – (1) That a provisional forecast outturn Collection Fund surplus of £4.250m in 2022/23 relating to a Council Tax surplus of £0.325m and Business Rates surplus of £3.925m be declared subject to the delegations below.

(2) That a provisional forecast outturn Collection Fund surplus to be appropriated to the Council’s General Fund in 2023/24 of £4.160m relating to a Council Tax surplus of £0.274m and Business Rates surplus of £3.886m be declared subject to the delegations below.

(3) That it be noted that the declared position will be offset by Section 31 grants received for CARF (Covid Additional Relief Fund) from Government of £5.293m.

(4) That it be noted that the declared Collection Fund position will be additionally offset by a requirement to return £4.479m of S31 grants received in 2022/23.

(5) That it be noted that the proposal for the Council Tax Discretionary Hardship Fund as set out in the Council Tax and Business Rates Discounts Annual Review report using the declared 2022/23 surplus to offset forgone Council Tax income as a result.

(6) That it be noted that the 2023/24 Council Tax Taxbase for budget setting purposes of 97,533.3 Band D equivalent dwellings. The Council’s final 2023/24 Council Tax Taxbase will be presented for approval to the Council meeting on 12 January 2023.

(7) That it be noted that the 2023/24 Business Rates budget forecast subject to the completion of the NNDR1 (Business Rates budget) to be submitted to Government by 31 January 2023.

(8) That it be noted that additional one-off resources identified are to be reviewed through the MTFP and 2023/24 budget setting processes following the Provisional Local Government Finance Settlement in December.

(9) That the following decisions be delegated to the Deputy Chief Executive in consultation with the Cabinet Member for Finance and Resources:

·         The decision to change the provisional 2022/23 Collection Fund forecast outturn position prior to declaring the position on 31 January 2023 as required by legislation;

·         The decision to continue in the Greater Manchester Business Rates pooling arrangement; and

·         The decision to vary the Business Rates forecast presented in Table 8 linked to the submission of the NNDR1 (Business Rates budget) to Government.