Issue - meetings

To consider a report of the Executive Councillor (Corporate, Customer & Community Services)

This report deals with the forecast Collection Fund outturn position for 2014/15, the setting of the Council Tax Base for 2015/16 and also presents a forecast for Business Rates income for 2015/16.

These items form an integral and important part of the Council’s budget setting process.

Within the Collection Fund, Council Tax and Business Rates revenues are separately identified.  For the Council Tax element, a surplus of £3.050m is forecast for 2014/15 of which Stockport’s share is £2.650m.  The forecast for the Business Rates element is a surplus of £0.273m; of which Stockport’s share is £0.134m.  Further details are provided in section two of the report.

The calculation of the Council Tax Base is highly prescribed and set out in government regulations. The calculation is prepared at a specified date and is submitted in a statutory return to Central Government. This calculation and the associated collection rate represents the Council Tax Base to be used for budget setting purposes.  Further details are set out in section three of the report.

A Council Tax Base of 89,500.5 is recommended and the calculation and assumptions are set out in this report.

Section four of the report sets out the Business Rates income forecast for 2015/16 which, assuming no further adjustment is required, will form the basis of a return submitted to central government by 31 January 2014.  The latest forecast suggests income of £90.515m will be achieved; Stockport’s share being £44.352m.  The forecast may vary following publication of the local government finance settlement.  The report therefore recommends delegating any decision to vary the Business Rates forecast to the Corporate Director, Corporate and Support Services, in consultation with the Executive Councillor for Corporate, Customer and Community Services.

Finally, section five sets out the latest position regarding the proposal for the pooling of business rates revenues across Greater Manchester and Cheshire East Council.

(1)          The Executive is recommended to:

·                    Declare a forecast Collection Fund surplus relating to Council Tax Revenues of £3.050m for 2014/15 and a forecast Collection Fund surplus relating to Business Rates of £0.273m

·                    Approve the Council Tax Base for 2015/16 at a Band D equivalent figure of 89,500.5;

·                    Provisionally approve the forecast for Business Rates Income of £90.515m for 2015/16.

(2)          The Executive is recommended to delegate the following decisions to the Corporate Director for Corporate and Support Services, in consultation with the Executive Councillor (Corporate, Customer and Community Services):

·                    any decision to vary the Business Rates forecast presented at paragraphs 4.9 to 4.12 of the report;

·                    the decision as to whether or not to join the Greater Manchester/Cheshire East Business Rates Pool as set out in section 5.

Officer contact: Andy Moran, 0161 474 4086, Andrew.moran@stockport.gov.uk

The Executive Councillor (Corporate, Customer & Community Services) submitted a report (copies of which had been circulated) inviting the Executive to consider a forecast for the outturn position of the Council Tax Collection Fund for 2014/15 as well as the projected Council Tax Base for 2015/16, and presenting a forecast for Business Rates income for 2015/16.

RESOLVED – (1) That

·                a forecast Collection Fund surplus relating to Council Tax Revenues of £3.050m for 2014/15 and a forecast Collection Fund surplus relating to Business Rates of £0.273m be declared;

·                the Council Tax Base for 2015/16 at a Band D equivalent figure of 89,500.5be approved;

·                the forecast for Business Rates Income of £90.515m for 2015/16 be provisionally approved.

(2) That the following decisions be delegated to the Corporate Director for Corporate and Support Services, in consultation with the Executive Councillor (Corporate, Customer & Community Services):

·                any decision to vary the Business Rates forecast presented at paragraphs 4.9 to 4.12 of the report;

·                the decision as to whether or not to join the Greater Manchester/Cheshire East Business Rates Pool as set out in section 5 of the report.