{meta} Decision - Council Tax - Collection Fund Estimated Fund Balance Calculation 31 March 2020.

Decision details

Decision status: Recommendations Approved

Is Key decision?: Yes

Is subject to call in?: Yes

Decision:

Salford City Council - Record of Decision

 

I, Councillor Bill Hinds, Lead member for Finance and Support Services, in exercise of the powers contained within the Council Constitution, do hereby approve that a £0.963m surplus be declared as the estimated Collection Fund balance as at 31st March 2020 in respect of council tax.  

 

The Collection Fund regulations require a local authority to estimate the balance on its Collection Fund as at 31st March each year by 15th January and to notify each precepting authority. Any such balance is to be distributed to/borne by the council and the Greater Manchester Combined Authority (GMCA in relation to their police, fire and rescue and general mayoral functions) in proportion to the value of their respective demand and precept.

 

Options considered and rejected were: other estimated balances based on a variety of collection rates modelled to assess the likely impacts on the Collection Fund balance.

 

Assessment of Risk: Low – the Collection Fund is closely monitored during the year and will be reviewed at outturn 2019/20. Any actual surplus or deficit at that stage will be factored in to future estimated balance calculations.

 

The source of funding is: a £0.963m surplus declared as the fund balance means that distributions will be made to the council’s General Fund and GMCA in relation to their police, fire and rescue and general mayoral responsibilities in 2020/21.

 

Legal Advice obtained: yes

 

Financial Advice obtained: the report is produced by the corporate accountancy team.

 

Procurement Advice obtained: n/a

 

The following documents have been used to assist the decision process.

Various reports and papers including council tax system reports and the Local Authorities (Funds) (England) Regulations 1992.

 

Contact Officer:  David Eden            Tel No. 0161 793 3228

 

This decision is not subject to consideration by another Lead Member.

 

The appropriate scrutiny panel to call-in the decision is the Overview and Scrutiny Board.

                         

 

 

 

Signed: Councillor Hinds                                       Dated: 6th January 2020

Lead Member for Finance & Support Services

 

 

FOR DEMOCRATIC SERVICES USE ONLY

 

This decision was published on 6th January 2020.

 

This decision will come in force at 4.00 p.m. on 13th January 2020, unless it is called-in in accordance with the Decision Making Process Rules.

 

Publication date: 06/01/2020

Date of decision: 06/01/2020

Decided at meeting: 06/01/2020 - Lead Member for Finance and Support Services Briefing

Effective from: 14/01/2020

Accompanying Documents: