A report by the Director of Finance gave the estimated Collection Fund surplus or deficit for the year ending 31 March 2011.  The position had to be notified to the precepting Authorities by 22 January 2011.

Although a balanced position had been forecast, there was a slight variation with a relatively small surplus resulting and this had been factored into the January 2011 estimate.  It was noted that in 2010-11 the collection rate was in line with the 2009-10 performance and was on target.  Although collection performance was currently being maintained, any deterioration in the length of time taken to collect debt would impact upon the calculation of the provision for bad debts requirement and the balanced position of the Fund.  The Director would continue to closely monitor collection performance in the light of the national economic situation.

RESOLVED:

That the declaration of an estimated balanced position for the Collection Fund for the year ending 31 March 2011 be noted.