Council Sets Precept For New Financial Year!

At a meeting on Thursday 27 February 2014, the Town Council set its precept and budget for the new financial year (i.e. beginning 1 April 2014).

The gross expenditure has been set at £362,648. The precept demand of £222,019.57 will result in an estimated Band 'D' equivalent cost of £104.78.

Although the Town Council's gross expenditure has reduced in 2014/15, the small precept increase of 0.9% is a direct result of the significant reduction in a Government grant to the local authority. The reduction in this grant has had a significant impact on the Town Council's budget.

The Government had maintained that this grant would remain at the level of the current financial year (2013/14), but in reality, it was cut by approximately 7%. Prudent management of financial reserves has allowed the Town Council to both minimise the precept increase and freeze the hire charges of facilities.

It is estimated that the precept increase will result in a 2p weekly increase for a Band 'D' property.