Decision details

Notification of the Estimated Collection Fund Balances 2024-25 – Council Tax and Business Rates

Decision Maker: Cabinet

Decision status: Recommendations Approved

Is Key decision?: Yes

Is subject to call in?: Yes

Purpose:

The report will advise members of the estimated surplus or deficit balances on the Collection Fund in relation to Council Tax and Business Rates at 31 March 2025. The Local Government Finance Act 1992 (as amended) requires the Council as the Billing Authority to calculate a Council Tax Collection Fund estimate by 15th January each year. The Non-Domestic Rating (Rates Retention) Regulations 2013 require the Council as the Billing Authority to calculate a Business Rates Collection Fund estimate on or before 31st January each year.

Decision:

RESOLVED that:-

 

(a )     Cabinet approve the declaration of a surplus on the Collection Fund for the year ending 31 March 2025 in relation to Council Tax of £2.497 million to be distributed to the Council and Northumbria Police and Crime Commissioner in accordance with Council Tax regulations; the Council’s share being £2.305 million;

 

(b )     Cabinet note the overall estimated surplus on the Collection Fund for the year ending 31 March 2025 in relation to Business Rates of £7.958 million; the Council’s share being £3.979 million;

 

(c )     Cabinet note the distribution of the estimated Collection Fund surplus for Council Tax to the Northumbria Police and Crime Commissioner of £0.193 million, and the distribution of the estimated Collection Fund surplus for Business Rates of £3.979 million to the Secretary of State; and

 

(d )     Cabinet note the inclusion of the Council’s share of the estimated Collection Fund balances distributable in 2024-25 of £2.305 million surplus and £3.979 million surplus for Council Tax and Business Rates respectively, within the Council’s budget 2025-26.

Report author: Kate Johnstone

Publication date: 14/01/2025

Date of decision: 14/01/2025

Decided at meeting: 14/01/2025 - Cabinet

Effective from: 20/01/2025

Accompanying Documents: