Issue - meetings
Council Tax 2017/18 - Collection Fund Adjustments
Meeting: 23/11/2016 - Policy and Resources Committee (Item 124)
Additional documents:
- AppendixICouncilTaxprojectionto31March2017, item 124 PDF 54 KB View as HTML (124/2) 47 KB
- AppendixIIBusinessRatesprojectionto31March2017, item 124 PDF 44 KB View as HTML (124/3) 41 KB
Decision:
That the
Committee:
1)
Agrees the 2016/17 Council Tax projection detailed in Appendix I of
this report and as a result agrees the distribution of the surplus
set out in paragraph 4.7 of the report of the Director of Finance
and Business Improvement; and
2) Agrees the 2016/17 Business Rates projection detailed in Appendix II of this report and as a result note the distribution of the deficit set out in paragraph 4.11 of the report of the Director of Finance and Business Improvement.
Minutes:
The Committee considered the report of the Director of Finance and Business Improvement on Council Tax and Business Rates – Projected Collection Fund Surplus/Deficit for 2016/17.
Members were reminded that the Council was required to maintain a collection fund which accounted for all local tax payments for council tax and business rates. The income was used to pay precepts to KCC, Kent Fire Authority, Kent Police (Council Tax only), Central Government (Business rates only) and the equivalent requirement of this Council which included the local Parish Precepts.
It was noted that there would be a projected surplus of £341,122 for the end of the financial year on the collection fund. In addition a deficit on the collection fund for business rates would be £5,716,816 which had been due to a significant number of appeals having been received.
In response to questions from Members, the Director of Finance and Business Improvement advised that:-
·
The deficit would not affect the Council’s reserves and would
be accounted for in the closing of accounts.
·
The new rating list for businesses would come into effect from
1st April 2017 and this may see more appeals being
generated.
RESOLVED: That
1)
The 2016/17 Council Tax projection detailed in Appendix I of this
report be agreed and as a result the distribution of the
surplus set out in paragraph 4.7 of the
report of the Director of Finance and Business Improvement be
agreed; and
2) The 2016/17 Business Rates projection detailed in Appendix II of the report be agreed and as a result the distribution of the deficit set out in paragraph 4.11 of the report of the Director of Finance and Business Improvement be noted.