Budgeting & Precept

2025/26 BUDGET AND PRECEPT INFORMATION

Precept is the tax raised for the business running and upkeep of the facilities provided by the Parish Council. Parish precept stays in the community which directly benefits from what it pays, unlike any other tax.

Parish Councils are not capped and can increase a precept by as much as required. Many often increase it by 30% (and even up to 70%) to pay for specific projects and reserves replenishment.

At the Parish Council meeting on 13th January 2025, the Parish Council unanimously agreed to increase the precept.  The precept money is used for business running costs, such as clerk’s salary, insurance, grass mowing on parish land, repairs to the pavilion, partly funding the Millennium Hall,  emergency planning/flood preparations that are not provided by the local authority / environment agency, provision of a defibrillator, dog waste bin etc.

It may be helpful to understand why it was decided to increase the precept again.

The precept had been set at £10,000 a year since at least 2016. Whilst that had not increased until 2024/25, running costs had risen considerably. For the current financial year – 2025/26 – it is forecasted to spend around £16,500 looking after the parish assets and general running costs. That gap must therefore close between what is coming in against what is being spent.

The precept for 2025 /26 has been set at £17,000. The Parish Council also holds reserves (also known as savings) which are earmarked.  It was left with a very small general reserve at the end of the 2024/25 financial year, of just over £2,000.  General reserves are usually advised to be around 6 months’ worth of running costs, so these are well under what is recommended.

Whilst this looks to be a large increase in one year, the actual increase for each house is only a few pounds.

During the year, the Parish Council will look very carefully at the costs of the services needed to buy in to (e.g. insurance, mowing costs, upkeep of the pavilion etc) and make plans to balance the budget for 2026/27 which will probably mean a further increase in the precept for that year.

If you have any questions or would like further information, please contact any Parish Councillor or the Clerk who will be happy to answer your questions.