Issue - meetings

To consider a report (to follow) of the Executive Member for Finance and Support Services.

Council considered a report recommending the calculation of the National Non Domestic Rates Budget 2016/17.  Under theprovisions ofthe Non-Domestic Rating (Rates Retention) Regulations 2013, by a direction under paragraph 43 of schedule 7B of the Local Government Finance Act 1988, localauthorities were required on or before 31st January to estimate and then notify the Secretary of State and any relevant precepting authorities of the amounts of each relevant precepting authority’s share of its non-domestic rating income for the relevant year.

The Executive Member for Finance and Support Services detailed the calculations, which Council approved, as now detailed.

RESOLVED – that (A) in accordance with the Non-Domestic Rating (Rates Retention) Regulations 2013, theamount calculatedby East Herts Council for theyear 2016/17shall be £44,466,980 (Non domestic rating income from rates retention scheme);

(B)      the estimated Collection Fund Deficit for 2015/16 of £5,675,972 be allocated to the constituent bodies as detailed at paragraph 2.18 of the report submitted; and

(C)      the Council’s share of the estimated 2015/16 NDR Collection Fund deficit be funded from the Collection Fund Reserve.