Issue - meetings

To consider a report of the Leader of the Council and Cabinet Member for Policy, Finance & Reform.

This report deals with the forecast Collection Fund outturn position for 2017/18, the setting of the Council Tax Taxbase for 2018/19 and also presents a forecast for Business Rates income for 2018/19.

The Cabinet is recommended to:

·                Declare a forecast Collection Fund deficit of £1.941m in 2017/18 relating to a Council Tax surplus of £1.287m and Business Rates deficit of £3.228m;

·                Approve the 2018/18 Council Tax Taxbase for budget setting purposes of 93,361.2 Band D equivalent properties;

·                Provisionally approve the 2018/19 forecast for Business Rates income of £83.135m; and

·                Approve the use of the Collection Fund 2016/17 growth funds and 2017/18 forecast position declared to support the Council’s MTFP and to increase the Council’s Capital Programme Investment Reserve as part of the Reserves Policy.

The Cabinet is also recommended to delegate the following decisions to the Borough Treasurer in consultation with the Cabinet Member for Reform and Governance:

·                The decision to vary the Business Rates forecast presented in Table 6.

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

The Leader of the Council and Cabinet Member for Policy, Finance & Devolution submitted a report (copies of which had been circulated) inviting the Cabinet to consider the forecast Collection Fund outturn position for 2017/18, the setting of the Council Tax Base for 2018/19 and providing a forecast for Business Rates income for 2018/19.

The Leader of the Council emphasised the volatility in business rate forecasting, and the benefits of mitigating some of that risk through the pooling of business rate income through Greater Manchester.

RESOLVED – That in relation to the Stockport Billing Area -2018/19 Council Tax Taxbase and Non Domestic Rates forecast:

·         a forecast Collection Fund deficit of £1.941m in 2017/18 relating to a

·         Council Tax surplus of £1.287m and Business Rates deficit of £3.228m be declared;

·         the 2018/19 Council Tax Taxbase for budget setting purposes of 93,361.2 Band D equivalent properties be approved;

·         the 2018/19 forecast for Business Rates income of £83.135m be provisionally approved; and

·         the use of the Collection Fund 2016/17 growth funds and 2017/18 forecast position declared to support the Council’s MTFP and to increase the Council’s Capital Programme Investment Reserve as part of the Reserves Policy be approved.

(2) That the decision to vary the Business Rates forecast presented in Table 6 be delegated to the Borough Treasurer in consultation with the Cabinet Member for Reform and Governance.