Issue - meetings

Report of Chief Finance Officer

Purpose of report

To seek approval in principle for the Council to continue to participate in a business rates pool.

Recommendations

The meeting is recommended to:

 1.1        Endorse and approve ‘in principle’  the Council  remaining in a business rates pool for participating authorities in Oxfordshire, noting the risks and benefits outlined in the report.

1.2       Grant delegated authority to the Chief Finance Officer (S151 Officer), in consultation with the Lead Member for Financial Management, to conclude necessary due diligence each year and confirm the Council’s final intention on whether or not to participate in a Oxfordshire business rates pool (however constituted) in future years. This is subject to the Government not changing the current arrangements for pooling. If the arrangements were to change then a report will be brought back to Members for consideration.

Resolved

(1)          That  the Council  remain in a business rates pool for participating authorities in Oxfordshire, noting the risks and benefits, be endorsed and approved ‘in principle’.

(2)          That delegated authority be granted to the Chief Finance Officer (S151 Officer), in consultation with the Lead Member for Financial Management, to conclude necessary due diligence each year and confirm the Council’s final intention on whether or not to participate in an Oxfordshire business rates pool (however constituted) in future years. This is subject to the Government not changing the current arrangements for pooling and if the arrangements were to change then a report would be brought back to Members for consideration.

The Chief Finance Officer submitted a report to seek approval in principle for the Council to continue to participate in a business rates pool.

Resolved

(1)          That  the Council  remain in a business rates pool for participating authorities in Oxfordshire, noting the risks and benefits, be endorsed and approved ‘in principle’.

(2)          That delegated authority be granted to the Chief Finance Officer (S151 Officer), in consultation with the Lead Member for Financial Management, to conclude necessary due diligence each year and confirm the Council’s final intention on whether or not to participate in an Oxfordshire business rates pool (however constituted) in future years. This is subject to the Government not changing the current arrangements for pooling and if the arrangements were to change then a report would be brought back to Members for consideration.

Reasons

It appears that the Council’s financial interests will best be maximised by continuing to participate in a pooling arrangement. Given the lack of formal guidance from DCLG for confirming the Council’s position and due to the fact that we may need to act quickly should DCLG require confirmation, it is necessary and appropriate to grant delegated authority to determine this to the Chief Finance Officer (S151 Officer) in consultation with the Lead Member for Financial Management. This arrangement should be ongoing but be subject to the Government not changing the current arrangements for pooling. If the arrangements were to change then a report will be brought back to Members for consideration.

Alternative options

Option 1: To not approve the recommendations set out above. Based on current informal guidance, CLG are not asking for confirmation at the moment but this situation may change and urgent action will then be needed to inform CLG on whether or not to remain in the North Oxfordshire Pool.