Northstowe Town Council Accounts and Finance
What is a Precept?
Northstowe Town Council derives most of its funding from a share (called ‘the precept’) of the Council Tax, which is collected by South Cambridgeshire District Council. The precept is the sum the Town Council requires to fund its activities and services.
The Precept is a tax that Town and Parish Council’s charge their local electors to meet their budget requirements. Town and Parish Councils do not receive any direct funding from central government and rely on their Precept plus any other income they generate from services or facilities they provide, or by grants.
How is it calculated?
The Precept requirement is the difference between the Town Council’s estimated income and its anticipated spending requirements for the financial year (its budget). The financial year runs from 1st April to 31st March. The Town Council needs to agree a budget before it can set its Precept and both must be agreed by the full Town Council.
The Precept for Northstowe for 2021/2022 has been determined by South Cambridgeshire District Council, as there was a requirement for this to be set prior to the re-organisation order coming into effect on the 1st April 2021. The budget for 2021/2022 was made in conjunction with the Interim Town Council.
In future years the 15 members of the Town Council will set the Precept taking into consideration:
- Current year’s spending levels -for ongoing services for which it is responsible
- Costs of any additional spending plans or projects
- Provision for contingencies and reserves
- Levels of anticipated income – from services for which it is responsible e.g. Income, allotment fees, grants.
The Precept for Northstowe for 2021/2022 is set at £66,472.80
Northstowe Town Council Budget for 2021/2022.
The 2021/2022 Budget has been set by South Cambridgeshire District Council in discussion with the Interim Council.
From the 1st April 2021 the Interim Council and subsequently following the election the elected council will work to this budget until year end – March 31st 2022.
For 2022/23 the Town Council budget process will commence in August when the Town Clerk/Responsible Financial Officer begins preparing draft budgets for each committee. The draft budgets will then be reviewed and the Full Council will set its formal budget in January.
Northstowe Town Council budget for 2021/2022