Precept & Budget Report – 01/18

Precept & Budget Report
Audit Opinion
September 25, 2017
Schedule of Meetings 2018/19
September 11, 2018
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Precept & Budget Report – 01/18

Precept & Budget Report

ABENBURY COMMUNITY COUNCIL

Precept and Budget report January 2018

£ £

 

Accounts 2016/7

Balance at 01/04/16

 

27,821.21

Income to 31/03/17

Precept

VAT Refund

Bank Interest

Total

12,500.00

1,934.67

2.08

14,436.75

Audited Expenditure to 31/03/17

7,970.88

 

Balance at year end

 

34,236.93

Budget Report 2017/18

   

Income to 31/03/2018

Precept

Residents Association – play scheme contribution

VAT refund

Bank Interest (est.)

Total

Expenditure

Incurred (to 30/11/2017)

Estimated (to 31/03/2018)

Total

12,500.00

920.00

1,829.88

5.00

8.083.10

5,000.00

15,254.85

13.083.10

Estimated Balance at 31/03/2018

 

36,408.68

PRECEPT

2018/19

 

Draft Budget 2018/19

   

Expenditure

Section 137 (Grants etc.)

Staff costs (inc expenses)

Play scheme continuation

Street Lighting

Play Equipment inspection & mtce

Audit

Insurance

Subscriptions

Website

Miscellaneous

Capital Spend

Total Estimated Expenditure

1,000.00

3,750.00

2,500.0

700.00

750.00

400.00

900.00

150.00

100.00

1,500.00

10,000.00

11,750.00

21,750.00

Tax base down from 502 to 497

Precept Options

Nil increase at Tax base 497 = £25.15@ band D (up from £25.05)

1% increase

5% increase

1% decrease

10% decrease

125.00

625

-125.00

-1,250.00

12,500.00

12,625.00

13,125.00

12,275.00

12,350.00

Recommendation

Given the level of reserves it is Recommended that the PRECEPT be kept at £12,500.00 which will still allow significant capital spend.

   

 

Additional Information

  • Section 137 Expenditure Limit is £7.86 per elector which equals £8,025.06. Last year expenditure under this section was £950 but has been as high as £1195.

  • The estimated expenditure assumes significant Capital spend which the Council is yet to agree will take place during 2018/9.

  • Balances at year end 2018 would be in the order of £27,000 which would still allow significant capital spend the following year.