Decision details

To agree the Council’s 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 £21.069m on the Collection Fund as at 31 March 2022, including a deficit of £421k on Council Tax (Harrow share –£343k and a deficit of £20.648m on Business Rates (Harrow share (£6.194m), be noted; and

(2)            Harrow’s share of £6.537m be agreed and transferred to the General Fund in 2022-23.

Reason for Decision:  To report to Cabinet on the Council’s statutory obligation to estimate the surplus or (deficit) on the Collection Fund for the year end.  Approval to the recommendations set out was a major 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.