To ask the Minister of Finance to detail the current forecast variance between Estimated Penny Product and Actual Penny Product for 2020/21 for each district Council area.

The table below shows the forecast 2020/21 rate revenue for each District Council based on rating data as at 31st August 2020, the rate revenue paid based on the estimated process and the difference (ie the finalisation). Where the forecast rate revenue is higher than the estimate, a positive finalisation is forecast; similarly, where the estimate is higher than the forecast rate revenue raised, a negative finalisation is forecast.

The forecast rate revenue figures are subject to change throughout the remainder of the 2020/21 rating year as gross income from rate assessments and the various rating losses move, and as such the finalisation can change in a positive or negative way. Land & Property Services officials monitor the figures and provide monthly updates to Council Finance Officers, together with a suite of management information to assist them with their budgetary planning process.