Accounts & Finance Matters
The Parish Council's accounts are maintained by the Parish Clerk who is also the Responsible Finance Officer. The accounts are presented to the Parish Council quarterly, and audited both by independant internal and external auditors. In November, the council meet to discuss the the precept and budget for the next financial year, and the agreed figure for the precept is then submitted to Canterbury City Council by the deadline which is usually the end of December.
What is the Precept?
The Precept is a tax that Parish Council’s charge their local electors to meet their budget requirements. 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. The Parish Council Precept is part of the Council Tax and is collected from local electors via their Council Tax payments
How is it Calculated?
The Precept requirement is the difference between the Parish 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 Parish Council needs to agree a budget before it can set its Precept, and both must be agreed by the full Parish Council. When calculating the Precept, the Parish Council takes into consideration:
- Current year’s spending levels - for ongoing services for which it is responsible e.g. playground facilities, insurance, office supplies and maintenance, staffing.
- 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. rental income, allotment fees, grant
Internal & External Auditors
Lionel Robbins undertakes the yearly internal audit
Mazars LLP undertake the yearly external audit