Decision details

To review the budget proposals previously agreed at Council in February 2017 and in so doing to consider the 2018/19 budget

RESOLVED that:

8.1       The overall financial position be noted;

8.2       The budget proposals for 2018/19 that were previously agreed at the Council meeting of 27 February 2017, as set out in Appendix A, be endorsed;

8.3       The technical assumptions underpinning the budget as set out throughout the report, be endorsed;

8.4       The results of the extensive consultation on the budget proposals and a council tax increase of 3.99% that was carried out between November 2016 and January 2017 with local residents, businesses and other stakeholders, be noted;

8.5       The approach to consultation between December 2017 and January 2018, as set out in section 4 of the report, be noted;

8.6       The estimated Collection Fund balance relating to Council Tax for 2018/19 as a surplus of £1.856m (Brent’s share being £1.503m) and note the current estimated balance relating to NNDR for 2018/19 as zero (no surplus or deficit), be agreed;

8.7

                      i.        Participation in the London Business Rates Pilot Pool for one year with effect from 1 April 2018, in principle, be agreed;

                    ii.        The decision whether to agree  the Designation Order to be issued by the Secretary of State designating the Council as an authority within the London Business Rates Pilot Pool pursuant to 34(7)(1) of Schedule 7B Local Government Finance Act 1988, be delegated to the Chief Finance Officer;

                   iii.        The Chief Finance Officer be authorised to enter into such Memorandum of Understanding with the participating authorities as may be necessary to implement and/or regulate the pool;

                   iv.        The authority's administrative functions as a billing authority pursuant to the Non-Domestic Rating (Rates Retention) Regulations 2013 be delegated to the City of London Corporation ("COLC") acting as the Lead Authority, subject to agreement of the Designation Order by the Chief Finance Officer;

                    v.        The Leader of the Council be agreed to represent the authority in relation to consultations regarding the London Business Rates Pilot Pool as may be undertaken by the Lead Authority pursuant to the Memorandum of Understanding and that he will respond to the consultations;

                   vi.        It be noted that the Lead Authority may sub-contract certain ancillary administrative functions within the Pool to the GLA as it considers expedient; and

                  vii.        The Chief Finance Officer, in consultation with the Leader of the Council, be delegated authority to agree the operational details of the pooling arrangements with the participating authorities.