Your Councillors

 

Maidstone Borough Council
Policy & Resources Committee
23 November 2016


Appendix II


Collection Fund 2016/17 - Business Rates Adjustment

 

 

Estimated non-domestic rates income 2016/17

 

£

Central Government

30,073,473

Maidstone Borough Council

24,058,778

Kent County Council

5,413,225

Kent Fire Authority

601,469

Total

60,146,945

 

 

Estimated surplus / deficit at 31 March 2017

 

 

 

£

Opening balance

612,939

Gross rates payable in respect of 2016/17

69,232,734

Less: Mandatory reliefs

-7,493,090

Discretionary reliefs

-207,501

Total charges

-58,330,195

Projected surplus for the year                                                                        3,814,887

 

 

 

 

Utilisation of fund balance

 

£

Actual deficit at 31 March 2016

-6,994,971

Less anticipated surplus

2,536,732

 

 

Add projected surplus 2016/17

-9,531,703

 

3,814,887

Projected deficit at 31 March 2017

-5,716,816

 

 

 

 

 

Distribution

 

£

 

Central Government

-2,858,408

50%

Maidstone Borough Council

-2,286,726

40%

Kent County Council

-514,513

9%

Kent Fire Authority

-57,168

1%

Total

-5,716,816

100%