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This model automatically produces the journals and subsequent NDR Collection Fund and General Fund positions for compliance with the 2016/17 Accounting Code and statutory provisions, for Billing and Precepting Authorities, non-pooling and pooling. It includes a safety net/levy and ‘pool benefit’ calculator and provides additional assurance and an audit trail for closedown and a monitoring and forecasting tool in-year.
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The model also produces the figures to be communicated to major preceptors at year-end and precepting authorities can use the model to comply with the 2016/17 Accounting Code and statutory requirements if they can obtain the relevant information from their billing authorities.
It includes for individual authorities the safety net/levy calculations and accounting requirements and for pools, the calculation of pool benefit. It then generates the relevant journals needing to be actioned on the authority’s ledger to cover both the accounting and statutory requirements and produce the Collection Fund and General Fund figures to be included in each authority’s statement of accounts.
The model then summarises the General Fund position of the authority, which can be used as a reconciliation tool to ensure that, once the journals have been posted, the ledger reflects what is expected. The model also produces an NDR Collection Fund Statement. Both these elements of the model mean that it can be used not only for year-end accounting but also in the estimation process of the statutory surplus/deficit for 31 January purposes and also in monitoring the Collection Fund and General Fund positions at any point during the year and can also demonstrate the impact of forecast outturn figures.
“Just thought I would send you a quick email to say how great your business rates spreadsheet is! Just down to the allocation of balances bit and I have found it extremely helpful so far and saved me loads of time trying to work it out for myself.” (Paul Allen, Finance Services Manager, North East Lincolnshire Council)
“Thank you, this model is really useful. Main things I liked on it was the levy calc (to confirm I was doing that OK) and also the journals tab because it meant I could confirm that all my journals were in line with what your model showed.” (Ian Stapleton, Finance Services Manager, Castle Point Borough Council)
“Yes, this all works perfectly – thank you so much for updating it and it’s a really useful tool to have so thank you for creating it in the 1st place!” (Breckland Council)
“A thank you to you and your colleagues for putting this model together, of enormous benefit.” (Keith Price, Group Accountant, Gosport Borough Council)
Council Tax Accounting Model 2016-17 (England)