EXECUTIVE MEMBER BRIEFING PAPER
TO: EXECUTIVE BOARD
FROM: DIRECTOR OF FINANCE
DATE: 18 JULY 2002
TITLE OF BRIEFING PAPER NATIONAL NON-DOMESTIC RATES YEAR
END WRITE OFFS (Prerequisite to Closure
To request Members to write-off individual accounts of over £20,000 in
accordance with Financial Regulation B7(iii).
The Executive Board is requested to write-off Non-Domestic Rate
Accounts totalling £115,908.45 in accordance with Financial Regulation
3. KEY ISSUES
The write-offs represent official liquidations, insolvencies or where
companies have been wound up and dissolved and submitted during
the 2001/02 financial year.
In each case it is unlikely that any dividend or repayment will be
forthcoming. A breakdown for each category of write-off is appended
Dissolved 1 account £ 35,234.63
Liquidation 1 account £ 31,728.90
Wound up 1 account £ 20,127.42
Insolvency 1 account £ 28,817.50
= £ 115,908.45
5. POLICY IMPLICATIONS
6. FINANCIAL IMPLICATIONS
To write-off the amount of £115,908.45 in non-recoverable national
non-domestic rates for the year 2001/02, provision has already been
made within the accounts for such write-offs.
7. LEGAL IMPLICATIONS
Individual write-offs in excess of £20,000 require the approval of the
Executive Board under the new Constitution Arrangements.
8. RESOURCE IMPLICATIONS
CONTACT OFFICER: Alan Cotton, Director of Finance
DATE: 5th July 2002
BACKGROUND PAPER: Rate records held by the Director of Finance