Issue - meetings

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

This report deals with the forecast Collection Fund outturn position for 2018/19, the setting of the Council Tax Taxbase for 2019/20 and also presents a forecast for Business Rates income for 2019/20.These items form an integral and important part of the Council’s budget setting process.

It is recommended that the Cabinet:

·      Declare a forecast Collection Fund surplus of £2.029m (£1.767m attributable to the Council) in 2018/19 relating to:

-      An in-year Council Tax surplus of £1.607m (£1.396m attributable to the Council);

-      an in-year Business Rates deficit of £0.088m (£0.087m attributable to the Council; and

-      A Collection Fund carry forward position of £0.510m (£0.458m attributable to the Council).

·         Note the 2019/20 Council Tax Taxbase for budget setting purposes of 94,302.9 Band D equivalent dwellings rising to 95,100.8 subject to the approval of the CTD proposal;

·         Note the impact that the approval of the proposed changes on the Council’s Council Tax Discount scheme will have on the 2019/20 Council Tax Taxbase;

·         Provisionally approve the 2019/20 forecast for Business Rates income of £82.367m subject to the completion of the Council’s 2019/20 NNDR1 form in January;

·         Note the £1.802m forecast benefit from the 2018/19 Pilot and the indexation compensation grant adjustment of £0.720m in 2019/20 against this;

·         Note the transfer of the 100% Retention Pilot 2018/19 outturn benefit to Collection Fund Reserves as part of the financial year end process;

·         Note the available resources to support the Council’s 2019/20 investment decisions and MTFP.

It is recommended that the Cabinet delegates 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 7.

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

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 2018/19, the setting of the Council Tax Taxbase for 2019/20 and a forecast for Business Rates income for 2019/20.

The Leader of the Council emphasised the volatility in Business Rates forecasting. He also highlighted that the Council Tax and Business Rates forecast outturn position had resulted in over a £1m of extra resources beyond the initial forecast at the start of the year. This was predominately due to Council Tax income evidenced by the Council’s excellent Council Tax collection rate.

RESOLVED – That in relation to the Stockport Billing Area -2019/20 Council Tax Taxbase and Non Domestic Rates forecast:

·         a forecast Collection Fund surplus of £2.029m (£1.767m attributable to the Council) in 2018/19 be declared relating to:

-       an in-year Council Tax surplus of £1.607m (£1.396m attributable to the Council);

-       an in-year Business Rates deficit of £0.088m (£0.087m attributable to the Council; and

-       a Collection Fund carry forward position of £0.510m (£0.458m attributable to the Council).

·         the 2019/20 Council Tax Taxbase for budget setting purposes of 94,302.9 Band D equivalent dwellings rising to 95,100.8 subject to the approval of the CTD proposal;

·         the impact that the approval of the proposed changes on the Council’s Council Tax Discount scheme on the 2019/20 Council Tax Taxbase be noted;

·         the 2019/20 forecast for Business Rates income of £82.367m be provisionally approved subject to the completion of the Council’s 2019/20 NNDR1 form in January;

·         the £1.802m forecast benefit from the 2018/19 Pilot and the indexation compensation grant adjustment of £0.720m in 2019/20 against this be noted;

·         the transfer of the 100% Retention Pilot 2018/19 outturn benefit to Collection Fund Reserves as part of the financial year end process be noted;

·         the available resources to support the Council’s 2019/20 investment decisions and Medium Term Financial Plan be noted.

(2) That the Borough Treasurer, in consultation with the Cabinet Member for Reform and Governance, be authorised to take decisions in relation to:

·         vary the Business Rates forecast presented in Table 7.

·         continuing in the Greater Manchester and Cheshire Business Rates pooling arrangement.