The Interim Director of Finance reported that in accordance with the Local Authority (Funds) (England) Regulations 1992, the Authority was required to estimate annually, on or as close to 15 January as possible, the likely surplus or deficit on its Collection Fund for the current financial year, to cover the period up to 31 March. The Authority was required to notify the precepting Authorities of the Fund within 7 days of 15 January in order for the estimated surplus or deficit to be taken into account by the precepting bodies in setting their Budget and likely precept requirements on the Collection Fund for the following year.

His estimate was that the Collection Fund balance, for the year ending 31 March 2013, would be nil and he commented that Wirral Council would neither receive any additional distribution nor pay an additional contribution on the basis of the estimated 31 March 2013 position.

Resolved – That the declaration of an estimated nil balance position for the Collection Fund for the year ending 31 March 2013, which is in accordance with current budget assumptions, be noted.