"In the current, incredibly challenging, COVID-19 environment, LG Futures’ continuously updated expert briefings, analysis and forecasts have been absolutely vital. We always subscribe to the full Toolkit, which provides the council with complete assurance that we respond effectively to the changing agenda"
Equipping Your Finance Professionals to Deliver More With Less.
LG Futures provides a range of subscription services, through our Financial Intelligence Toolkit.
Details of the contents of each subscription are provided below.
A comprehensive tool dedicated to Collection Fund Accounting, Monitoring and Budgeting
The Collection Fund Suite comprises three modules, which focus on inter-related aspects of Council Tax and Business Rates.
Module One – Council Tax and Business Rates Accounting Models. Takes the pain and complexity out of Collection Fund accounting.
Module Two – Business Rates Monitoring Model. Ensures your understanding of resource implications and changes throughout the annual cycle.
Module Three – NNDR1 Return Completion. Equips you to make the right decisions and achieves accurate resource projections.
- Provides robust audit evidence and clear audit trail, minimising queries
- Reconciliations and checks deliver full assurance on outputs
- Achieves compliance with regulatory requirements on the allocation of council tax and business rates surpluses/deficits
- Simplifies Collection Fund accounting, through a suggested ledger coding structure, including draft journals
- Ensures you optimise your local business rates resources
Unsure how robust your resource planning is?
The Resource Planning Hub is an extensive source of forward-looking online guidance, supplemented by dedicated expert telephone and email support, to inform and improve the robustness of your resource planning.
Key features of the Hub include:
- Subscribers receive a complimentary place at each of our regional events.
- Latest detailed local authority funding analysis at your fingertips, including national developments, recent trends and future forecasts.
- Identification of ‘at a glance’ highlights, key implications arising and checklists.
- In-depth evaluation, supporting a local assessment of funding resilience in your authority
- Coverage of the full breadth of the main sources of finance. This includes council tax; business rates; fees and charges and use of reserves locally, and also covers RSG; top-up grant; NHB; and other general/specific grants externally.
- A range of over 20 Tools to support individual authorities in reviewing their own funding trends and projections and enable comparisons with other authorities. This includes Tools on balance of funding; council tax; business rates and levels of appeals; reserves; and fees and charges.
Overloaded with complex funding developments?
The Funding Briefing Service provides detailed briefings, monthly updates and email alerts, covering over 150 separate national funding issues per annum, which impact on your authority.
In 2020, this included 45 separate briefings – the highest number we have ever provided in a calendar year - and a similar number of email alerts.
Together, these provided comprehensive coverage of COVID-19 financial announcements, the finance settlement, SR20 and other significant local government funding developments.
We have also introduced a new monthly update webinar, that compliments our existing briefings. The 'What's Hot' webinars will be free for Funding Briefing Service subscribers.
COVID-19 Local Government Funding Consolidated Briefingpdf 353.26 KB
MHCLG Guidance on compensation scheme for lost fees and charges income from Covid-19pdf 525.2 KB
Collection rates for Council Tax and NNDR in England 2019 to 2020pdf 221.22 KB
Provisional Finance Settlement Briefing Note 2020-21pdf 404.32 KB
Uncertain about your financial future?
Our comprehensive Medium-Term Revenue Resource Forecastmodel provides continuously updated forecasts for your individualauthority, with full telephone and email support.
Key features include:Continuously updated five-year forecasts for your individual authority, with full telephone and email support.
- Local authority specific data pre-populated to avoid users having to input data locally.
- The ability to change national and local assumptions e.g. CPI, council tax and business rates taxbase growth.
- Forecasting resulting business rates income; levy and safety net amounts; pooling income; and Section 31 grant payments.
- Identifying the interaction between the Collection Fund and General Fund on business rates.
- Forecasting council tax income, based upon forecast taxbase and rate changes, including localised Council Tax support claims.
- Potential upper and lower funding scenarios for your own authority.
Too much data, not enough interpretation?
These user-friendly benchmarking reports enable you to readily compare your financial position against similar authorities and nationally, identifying areas for potential further investigation.
Unit Costs Report - expenditure per unit of activity and savings that would potentially be achieved by moving to upper, median and lower quartile spending levels.
Savings Report - identifies changes in budgeted spending at individual service level and enables you to compare your savings with other authorities.
Fees and Charges Report - identifies fees and charges income as a proportion of service expenditure, showing where income is relatively low compared to other authorities.
Local Taxation Report - shows council tax and business rates trends, including taxbase changes, business rates growth, council tax levels and collection rates.