07/02/2019 - Collection Fund 2018-19 ref: 4500 Recommendations Approved
The Council is required to maintain a Collection Fund to record the Council Tax and National Non-Domestic Rates collected and paid to the precepting authorities and to Central Government.
Decision Maker: Cabinet Member - Finance & Resources
Decision published: 07/02/2019
Effective from: 15/02/2019
1. That the declaration of an estimated £0.59 million surplus balance position for the Council Tax proportion of the Collection Fund for the year ending 31 March 2019 be notified to the precepting bodies. Wirral’s share is £0.50 million.
2. That the declaration of the 2018/19 National Non-Domestic Rates (Business Rates) surplus/deficit position and 2018/19 initial forecast be made by the Cabinet Member for Finance and Income Generation in conjunction with the Director of Finance & Investment (Section 151 Officer) on, or before, 31 January 2019. This forecast is yet to be finalised.
3. That any Council share of the ‘one-off’ distribution from the Collection Fund, currently estimated as surplus regarding Council Tax be added to the General Fund balances for use in supporting the General Fund budget.
4. That any surplus or deficit position arising from the estimated NNDR position as at 31 January 2019 be reflected in the 2019/20 budget and General Fund balances.
Lead officer: Peter Molyneux