When I was asked to write an article on ‘the most common problems with collection fund accounting in 2019/20’ I realised that I could pretty much recycle a similar article I wrote three years ago. The same issues seem to come up time and time again for authorities when I help them complete their collection fund accounts or review their approach, either in their own working papers or having used the CIPFA Collection Fund Excel models.
The problems are also very similar for both council tax and non domestic rates (NDR). Despite the added complexities of NDR, the fundamental principles of the two schemes are the same and the same issues befall both.
Hopefully you have finalised your collection fund for 2019/20 now. In producing those accounts, were you happy with your approach to the following?
If you are not sure you can answer yes to all of the above questions then CIPFA can provide support. This can be to help you produce your collection fund at the year end, remotely or onsite. Alternatively, we can review the approach you have taken using your own working papers or CIPFA Collection Fund Model to inform your draft or final accounts. Or, we can review at any time of year to give you reassurance on the approach for the year just gone – or to ready yourself for the year ahead.
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