Purpose

To report on the estimated outturn for Council Tax and Business Rates, also referred to as Non-Domestic Rates (NDR), transactions on the Collection Fund in 2024-2025.

Content

1.      That the estimated outturn for Council Tax in 2024-2025 is a cumulative deficit of approximately £1.6 million; this is as a result of a cumulative deficit of £6,000 brought forward from 2023-2024 and an estimated deficit in 2024-2025 totalling approximately £1.6 million.   2.      That the estimated outturn for Business Rates, also referred to as Non-Domestic Rates, in 2024-2025 is a cumulative surplus of approximately £3.3 million; this is as a result of a cumulative deficit of £723,000 brought forward from 2023-2024 and an estimated surplus in 2024-2025 totalling approximately £4.0 million.   3.      That authority be delegated to the Cabinet Member for Resources, in consultation with the Director of Finance, to confirm any final changes to the forecast outturn reflecting any further information received ahead of the statutory deadline of 31 January 2025.   4.      That authority be delegated to the Director of Finance to confirm and arrange the final payments to the precepting authorities.