Issue - meetings

Collection Fund Outturn 2019/20

Meeting: 25/06/2020 - Joint Overview and Scrutiny Panel (Item 26)

26 Collection Fund Outturn 2019/20 pdf icon PDF 289 KB

To consider the attached report of the Chief Finance Officer

Minutes:

The Members scrutinised a report of the Chief Finance Officer which detailed the Collection Fund outturn position for 2019/2020.  The Members were informed there was a surplus of £0.932m, comprising: £1.869m surplus relating to Business Rates; and a £0.937m deficit relating to Council Tax. The Council’s share of the 2019/2020 Collection Fund outturn surplus was £1.057m.

 

The Panel was informed that not reporting on financial performance puts at risk the achievement of the Council’s Medium Term Financial Plan and that effective budget management was critical to ensuring financial resources are spent in line with the budget and were targeted towards the Council’s priorities.

 

The Panel was informed that the Cabinet had received this report at its meeting on 26th May 2020. The report had been presented to the Cabinet for information as part of the budget monitoring process.

 

Resolved:
That the 2019/20 Collection Fund outturn position be noted.


Meeting: 26/05/2020 - Cabinet (Item 5)

5 Collection Fund Outturn 2019/20 pdf icon PDF 289 KB

To note the attached report of the Chief Finance Officer

Minutes:

Consideration was given to a report of the Chief Finance Officer reporting the Collection Fund outturn position for 2019/20.  Members were informed there was a surplus of £0.932m, comprising:

·         £1.869m surplus relating to Business Rates;

·         £0.937m deficit relating to Council Tax.

The Council’s share of the 2019/20 Collection Fund outturn surplus was £1.057m.

 

Alternatives considered

Not reporting on financial performance puts at risk the achievement of the Council’s Medium Term Financial Plan. Effective budget management was critical to ensuring financial resources are spent in line with the budget and were targeted towards the Council’s priorities. Monitoring enabled the early identification of variations against the plan and facilitated timely corrective action.

 

RESOLVED

That the 2019/20 Collection Fund outturn position be noted.

 

Reason for resolution

The Collection Fund outturn report for 2018/19 was presented to Cabinet for noting as part of the budget monitoring process.