The Council receives a Settlement Funding Assessment (SFA) from Government which comprises Business Rate Top Up Grant, together with the Government’s assessment of the level of Business Rates income to be retained by the Council. The SFA for 2017/18 is £108.273m:
Settlement Funding Assessment 2017/18 | £000 |
---|---|
Business Rates Top Up (Funded from Central Government) | 54,747 |
Government Assessed Locally Retained Business Rates | 53,526 |
Total Settlement Funding Assessment | 108,273 |
The Council’s budget forecasts collecting and retaining £50.646m of Business Rates revenue during 2017/18. Although this is £2.880m lower than the Government’s assessment, the difference is more than covered by the receipt of additional Government Grant paid in lieu of Business Rates totalling £5.271m.
In addition to the funding from Central Government, the Council also receives a number of other General Government grants which support its 2017/18 revenue budget. These are:
Government Grant | £000 | £000 |
---|---|---|
Grants in lieu of Business Rates | 5,271 | |
Education Services Grant | 774 | |
New Homes Bonus | 2,641 | |
New Homes Bonus Returned Funding | 143 | |
Housing Benefit Administration Grant | 891 | |
Council Tax Administration Grant | 403 | |
Independent Living Fund (ILF) Grant | 2,748 | |
Improved Better Care Fund Grant | 716 | |
Adult Social Care Support Grant | 1,127 | |
Other Non Ringfenced Government Grants | ||
Special Educational Needs and Disability Grant | 203 | |
Implementation of Universal Credit | 283 | |
New Burdens - Department for Work and Pensions | 10 | |
Lead Local Flood Authority | 10 | |
506 | ||
Total General Government Grants | 15,220 |
Subsequent to setting the Council’s 2017/18 budget the Chancellor, as part of the Spring Budget, has announced an additional £2bn of funding allocated to Social Care in England over the next 3 years with £1bn available in 2017/18. The Government has confirmed allocations for Oldham Council of £5.095m for 2017/18, £3.201m for 2018/19 and £1.586m for 2019/20. The Council is now considering how best to deploy these resources to support the provision of Adult Social Care services.