Council Tax statement from Michael Cullen, Borough Treasurer, Stockport Council

During the financial year 2019/20 the council plans to spend £635m on the provision of a wide range of services to Stockport residents.

During the financial year 2019/20 the council plans to spend £635m on the provision of a wide range of services to Stockport residents. This includes £215m for schools which will be met by a dedicated government grant, and almost £54m on the provision of council housing which is met primarily from rent income. After taking account of income from fees and charges and a number of specific grants the ‘net revenue budget’ for council services has been set at £240.5m.

What is the Cost of Providing Services?

What is the Cost of Providing Services.

In order to fund these services, Council Tax will increase by 2.75% in 2019/20. Of this, 1% relates to the increase to the ‘Adult Social Care Precept’ in 2019/20 allowed for by Central Government to provide the council with funding to meet the increasing cost of providing adult social care services to vulnerable residents. For 2019/20, Council Tax receipts will total over £156m (including the Adult Social Care Precept). For a ‘Band D equivalent’ property in Stockport this equates to Council Tax charge of £1,641.65 in 2019/20.

The council is also required to collect a Mayoral Police and Crime Commissioner Precept and the Mayoral General Precept (including Fire Services) on behalf of the Mayor and Greater Manchester Combined Authority. This results in an overall Council Tax charge for a ‘Band D equivalent’ property in Stockport of £1,916.90 in 2019/20.

In 2019/20 the council will continue to be part of the Greater Manchester 100% Business Rates Retention Pilot. The council will retain 99% of the Business Rates income collected (1% will be paid to the Greater Manchester Combined Authority for Fire Services). As a result just under £70m of the net expenditure will be met from within the Business Rates funding regime. A further £10m of the costs of providing services will be funded by Central Government Grants.

The 2019/20 budget includes the use of one-off resources totalling £6m to provide one-off support to fund services. The use of one-off resources ensure the Council’s budget is robust and able to mitigate the impact of increasing costs whilst the transformation to service delivery models are implemented to move the council to a model of self-financing and sustainability.

How is the council Funded?

How is the council funded

Further details of the council’s budget, including details of the Precepts, are available on the our website at www.stockport.gov.uk/counciltax.

Michael Cullen, Borough Treasurer, Corporate and Support Services