A report on the Collection Fund 2019/2020 will be presented to the Committee for noting.
The Committee received a report from the Chief Finance Officer who updated Members on the Council’s Collection Fund outturn position for 2019/2020. The Committee were advised that this report would be submitted to the Council’s Cabinet, on 2nd December 2019 where the recommendations contained therein would be requested to be approved.
It was reported that the Collection Fund Position for 2019/20 was a forecast as a surplus of £1.383m, comprising: £0.597m surplus relating to Business Rates; and £0.786m surplus relating to Council Tax. The Council’s share of the forecast 2018/19 Collection Fund outturn surplus was £1.260m.
That the report be noted.
To consider the Collection Fund 2019/20.
Cabinet considered the report of the Chief Finance Officer which provided details of the forecast Collection Fund outturn position for 2019/20 as at the end of September 2019.
The report would be submitted to the Corporate Overview and Scrutiny Committee in January 2020.
Not reporting on financial performance puts at risk the achievement of the Authority’s Medium Term Financial Strategy. Effective financial management is critical to ensuring that financial resources are received in line with the budget, which enables them to be targeted towards the Council’s priorities.
1. That the forecast 2019/20 Collection Fund outturn position be noted:
2. That it be noted that the Council is due to receive £1.470m from Greater Manchester Combined Authority in respect of 2018/19 Business Rates growth previously paid, and this will be held in the Business Rates Growth Reserve, as detailed in paragraph 4.2.5.
Reasons for the decision:
The Collection Fund forecast outturn report for 2019/20 is presented to Cabinet for noting as part of the budget monitoring process.
Eligible for call in – no