Decision details

To agree the Councils collection fund position and to allow the appropriate transfers to the general or collection fund to clear surplus or deficit.

RESOLVED:  That

(1)          an overall net estimated deficit of (£29.569m) on the Collection Fund as at 31 March 2021, including a surplus of £7,000 on Council Tax (Harrow share –£6k and a deficit of (£29.576m) on Business Rates (Harrow share (£8.873m), be noted;

(2)          Harrow’s share of (£8.867m) and its transfer to the General Fund in 2021-22, be agreed.

Reason for Decision:  To report on the Council’s statutory obligation to estimate the surplus or (deficit) on the Collection Fund for the year end as part of the annual budget review process.

Alternative Options Considered and Rejected:  As set out in the report.

Conflict of Interest relating to the matter declared by Cabinet Member/Dispensation Granted:  None.