Agenda item - Business Rates Retention Forecast 2018/19

Report of the Executive Director, Finance & Resources

That Policy, Resources & Growth Committee:

1)            Notes that the amount forecast to be received by the council in 2018/19 from its share of local business rates and section 31 Local Government Act 2003 compensation grants is £61.361m, based on the latest data.This is £0.238m above the forecast used in the November draft budget proposals report.

2)            Delegates the agreement of the final business rates forecast and the NNDR1 2018/19 form to the Executive Director of Finance & Resources following consultation with the Chair of this Committee for the reasons given in paragraph 1.2.

83.1      RESOLVED-

That Policy, Resources & Growth Committee:

1)            Notes that the amount forecast to be received by the council in 2018/19 from its share of local business rates and section 31 Local Government Act 2003 compensation grants is £61.361m, based on the latest data.This is £0.238m above the forecast used in the November draft budget proposals report.

2)            Delegates the agreement of the final business rates forecast and the NNDR1 2018/19 form to the Executive Director of Finance & Resources following consultation with the Chair of this Committee for the reasons given in paragraph 1.2.