Parish Council Budgets

A well-planned budget is an essential tool for controlling the Council’s finances as it provides the Council with the confidence to ensure that sufficient income is available throughout the year to pay for any services and expenditure for any planned projects offered through the Council.

By monitoring our spending against the budget plan, the council controls its finances during the course of the financial year and makes progress towards what we wish to achieve.

What is the precept?

The Precept is the money which is given to the Parish Council to run all Council business. A percentage of the council tax which is paid by residents is based upon the amount of Precept requested by the Parish Council.

The Parish Council has to apply to Hinckley and Bosworth Borough Council each year for its Precept.

What other income is received?

The other income received by the Parish Council is from the allotment rent, any grants received for specific projects, VAT reclaims and bank interest.

What does the Council spend its money on?

From all income received, the Parish Council then has to pay for things like insurance, electricity supply for the street lighting, all street lighting repairs and maintenance, grass cutting for open spaces that are maintained by the Council, audit fees and the Parish Clerk’s salary.

With any money left over which the Parish Council can accrue, might then be spent on new assets such as benches or street lights, dog or litter bins and costs associated with other projects being undertaken.