Issue - meetings

To consider a report of the Leader of the Council (Policy, Finance & Devolution)

This report deals with the forecast Collection Fund outturn position for 2016/17, the setting of the Council Tax Base for 2017/18 and also presents a forecast for Business Rates income for 2017/18.These items form an integral and important part of the Council’s budget setting process.

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. A Council Tax Base of 91,720.1 is recommended and the calculation and assumptions are set out in this report. Further details are set out in section three of the report.

The Executive is recommended to:-

·           Declare a forecast Collection Fund deficit of £0.301m in 2017/18 relating to a Council Tax surplus of £0.424m and Business Rates deficit of £0.725m;

·           Approve the Council Tax Base for 2017/18 budget setting purposes of 91,720.1 Band D equivalent dwellings; and

·           Provisionally approves the 2017/18 forecast for Business Rates income of £42.163m.

It is recommended that the Executive delegates the following decisions to the Borough Treasurer in consultation with the Executive Councillor for Reform and Governance:

·           The decision to vary the Business Rates forecast presented in paragraph 4.25;

·           The decision to pilot the 100% Business Rates Retention from 1 April 2017 as set out in paragraph 4.24 to 4.28; and

·           The decision as to whether or not to join the Greater Manchester, Cheshire East, Cheshire West and Chester Business Rates Pool as set out in section 5.

Officer contact: Jonathan Davies, 0161 218 1025, jonathan.davies@stockport.gov.uk

The Leader of the Council (Policy, Finance & Devolution) submitted a report (copies of which had been circulated) inviting the Executive to consider the forecast Collection Fund outturn position for 2016/17, the setting of the Council Tax Base for 2017/18 and providing a forecast for Business Rates income for 2017/18.

RESOLVED – (1) That in relation to the Stockport Council Tax and Non-Domestic Rates Billing Area:-

·           a forecast Collection Fund deficit of £0.301m in 2017/18 relating to a Council Tax surplus of £0.424m and Business Rates deficit of £0.725m be declared;

·           the Council Tax Base for 2017/18 budget setting purposes of 91,720.1 Band D equivalent dwellings be approved; and

·           the 2017/18 forecast for Business Rates income of £42.163m be provisionally approved.

(2) That the following decisions be delegated to the Borough Treasurer in consultation with the Executive Councillor (Reform & Governance):

·           any decision to vary the Business Rates forecast presented in paragraph 4.25 of the report;

·           the decision to pilot the 100% Business Rates Retention from 1 April 2017 as set out in paragraphs 4.24 to 4.28 of the report; and

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