Issue - meetings

Report of Head of Finance and Procurement

Summary

To inform the Executive of the latest position on the LGRR project regarding council tax and pooling localisation and an update on 2013/14 budget planning.

Recommendations

The Executive is recommended to:

(1)               Note the latest position on council tax localisation and consultation responses.

(2)               Note the latest position on business rates localisation and pooling.

(3)               Delegate authority to the Chief Executive and Director of Resources, in consultation with the Leader of the Council and the Lead Member for Financial Management to make an application to join an Oxfordshire pool if the financial modelling supports

(4)               Note the changes to the budget timetable.

Resolved

(1)          That the latest position on council tax localisation and consultation responses be noted.

(2)          That the latest position on business rates localisation and pooling be noted.

(3)          That authority be delegated to the Chief Executive and Director of Resources, in consultation with the Leader of the Council and the Lead Member for Financial Management to make an application to join an Oxfordshire pool if the financial modelling supports.

(4)          That the changes to the budget timetable be noted.

The Head of Finance and Procurement submitted a report which informed the Executive of the latest position on the LGRR project regarding council tax and pooling localisation and an update on 2013/14 budget planning.

In introducing the report, the Lead Member for Financial Management reported thatCherwell District Council had agreed with other major preceptors in Oxfordshire that for year 1 of the new council tax localisation scheme the status quo should be maintained and that there would, in effect, be no change to the current support which is in place. Proposals to offset the budget reduction will be prepared as part of the 13/14 budget process and reported to the Executive in due course.

In terms of business rates localisation and pooling, modelling was still ongoing and a recommendation on whether to formally submit an application to pool by the deadline of 9th November would be made the week commencing 5 November 2012. A full report detailing the recommendation and next steps would be presented to the December 2012 Executive.

Resolved

(1)          That the latest position on council tax localisation and consultation responses be noted.

(2)          That the latest position on business rates localisation and pooling be noted.

(3)          That authority be delegated to the Chief Executive and Director of Resources, in consultation with the Leader of the Council and the Lead Member for Financial Management to make an application to join an Oxfordshire pool if the financial modelling supports.

(4)          That the changes to the budget timetable be noted.

Reasons

In September and October 2012 the Executive received an update report on the Local Government Resource Review (LGRR) including the introduction of localised Council Tax Support to replace Council Tax Benefit and changes to the way in which business rates are collected and distributed. This summary provides members with updated information on progress since the last report.

The Council agreed its budget guidelines and timetable at the Executive meeting in October 2012 which showed a first draft of the budget being presented at the December 2012 meeting. The information regarding the financial settlement for local authorities will not be available until at least the 19 December 2012 so the first draft of the budget will be presented to the Executive in January 2012.

Options

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