Purpose

-To approve the calculation of the Council Taxbase for 2024/25

-To delegate authority to the Cabinet Member and Chief Financial Officer to complete and certify the NNDR1 for 2024/25 on behalf of the Council.

-To note the projected Council Tax and Business Rates Collection Fund surplus or deficit for 2023/24.

Decision

The Cabinet:

1. 1          Approved in accordance with the relevant legislation and regulations, the Council Taxbase (Band D residential properties) for Lichfield District for the financial year 2024/25 of 41,115.8.
2. 2       Noted the estimated Council Tax Collection Fund Surplus of (£846,000) (LDC Share £99,000) and the estimated Business Rates Collection Fund Surplus of (£2,826,000) (LDC Share £1,130,000) for 2023/24.
3. 3       Delegated authority to the Cabinet Member for Finance & Commissioning and the Chief Financial Officer (Section 151) to:

·       Complete and certify the NNDR1 for 2024/25 on behalf of the Council.

·       Update the Council Taxbase for 2024/25 and Collection Fund projections for 2023/24 in the event of changes to guidance or the need for significant changes to underlying assumptions