Purpose

This report deals with the forecast Collection
Fund outturn position for 2024/25, the setting of the Council Tax
Taxbase for 2024/25 and also presents a forecast for Business Rates
income for 2025/26. These items form an integral and important part
of the Council’s budget setting process.

Content

The Cabinet considered
the forecast Collection Fund outturn position for 2024/25, the
setting of the Council Tax Taxbase for 2025/26, and a forecast for
Business Rates income for 2025/26 and agreed:-
 
(1) That the
Cabinet:-
 

(i)        Declare a provisional forecast
outturn Collection Fund surplus of £0.461m in 2024/25
relating to a Council Tax deficit of £0.531m and Business
Rates surplus of £0.992m subject to the delegations
below;
 

(ii)       Declare a provisional forecast outturn
Collection Fund surplus to be appropriated to the Council’s
General Fund in 2025/26 of £0.535m relating to a Council Tax
deficit of £0.447m and Business Rates surplus of
£0.982m subject to the delegations below;
 

(iii)       Approve the use of the declared
surplus to support the Council’s 2025/26 Budget and
MTFP;
 

(iv)      Note the proposal for the Council Tax
Discretionary Hardship Fund as set out in the Council Tax and
Business Rates Discounts Annual Review report as per paragraph
3.4;
 

(v)       Note the 2025/26 Council Tax Taxbase for
budget setting purposes of 99,339.6 Band D equivalent dwellings.
The Council’s final 2025/26 Council Tax Taxbase will be
presented for approval to the Council meeting on 16 January
2025;
 
(vi)
     Note the 2025/26
Business Rates budget forecast subject to the completion of the
NNDR1 (Business Rates budget) to be submitted to Government by 31
January 2025; and
 

(vii)     Note that the indicative Collection Fund
resources identified are to be reviewed through the MTFP and
2024/25 budget setting processes following the Provisional Local
Government Finance Settlement in December.
 
(2) That the following
decisions be delegated to the Deputy Chief Executive in
consultation with the Cabinet Member for Finance & Resources:-
 

(i)        The decision to change the
provisional 2024/25 Collection Fund forecast outturn position prior
to declaring the position on 31 January 2025 as required by
legislation;
 

(ii)       The decision to continue in the Greater
Manchester Business Rates pooling arrangement; and
 

(iii)     The decision to
vary the Business Rates forecast presented in Table 7 linked to the
submission of the NNDR1 (Business Rates budget) to Government.

 
(NOTE: This decision
was originally published on 11 December 2024, however it contained
an error in resolution (1)(v) that erroneously referred to a
Council Tax Taxbase for budget setting purposes of
‘99,399.6’ rather than
‘99,339.6’.  The decision
has been republished to correct this error).

Alternative options considered

None.