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.

Content

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.