Lead Member – Councillor Gwilym Butler – Portfolio Holder for Finance and Corporate Resources

Report of James Walton – Executive Director of Resources

RESOLVED:

That Members:

·       Noted the overall Collection Fund estimated surplus of £6.841m for the year ending 31st March 2023, comprised of an estimated surplus of £2.836m for Council Tax and an estimated surplus of £4.005m for Non-Domestic Rates (NDR).

·       Noted the estimated surplus/deficit incorporates the final year of the three year phasing of the 2020/21 in year deficit.

·       Noted the distribution of the Collection Fund estimated surplus for Council Tax and NDR to the major/relevant precepting authorities and the Secretary of State.

·       Noted Shropshire Council’s share of the overall estimated surplus of £4.313m, comprised of an estimated surplus of £2.331m for Council Tax and an estimated surplus of £1.982m for NDR, and how this will be applied to improve the council’s overall financial sustainability and resilience.

·       Noted the inclusion of Shropshire Council’s share of the overall estimated surplus for Council Tax and NDR in the 2023/24 budget.

The Portfolio Holder for Finance and Corporate Resources presented the report and Members noted that the Council expects good collection rates for council tax and business rates in 2022/23, exceeding our estimates by £4.3m. This reflects strong financial resilience locally (despite pressures of the high cost of living) and high performance by the collections team.

Members thanked the Executive Director of Health for her team’s work in contacting over 5,000 residents to offer support. Members urged residents who were struggling financially to contact the Council.

RESOLVED:

That Members:

·       Noted the overall Collection Fund estimated surplus of £6.841m for the year ending 31st March 2023, comprised of an estimated surplus of £2.836m for Council Tax and an estimated surplus of £4.005m for Non-Domestic Rates (NDR).

·       Noted the estimated surplus/deficit incorporates the final year of the three year phasing of the 2020/21 in year deficit.

·       Noted the distribution of the Collection Fund estimated surplus for Council Tax and NDR to the major/relevant precepting authorities and the Secretary of State.

·       Noted Shropshire Council’s share of the overall estimated surplus of £4.313m, comprised of an estimated surplus of £2.331m for Council Tax and an estimated surplus of £1.982m for NDR, and how this will be applied to improve the council’s overall financial sustainability and resilience.

·       Noted the inclusion of Shropshire Council’s share of the overall estimated surplus for Council Tax and NDR in the 2023/24 budget.