Parish Council Finance

Precept

The Parish Council has a power to raise funds and this is done through the Precept. The Precept is the money collected by Chichester District Council on behalf of the Parish Council through the Council Tax – you will see this listed separately on your Council Tax Statement.

In October of each year, the Parish Council starts preparing a budget for the following year, taking into consideration the likely income and expenditure for the Parish. The Parish Council is responsible for the maintenance of Parish Council owned property and for maintaining the appearance of the village. As such, all these costs, plus the cost of any new projects or major works, are taken into consideration. Although the Council receives a small amount of income from allotment rents, the visiting fair and Village Hall Lease, the majority of the income is raised from the Precept.

In 2016 the Parish Council reviewed the objectives included in the Community Action Plan (at the back of the Neighbourhood Plan) as well as known maintenance items and prepared a 5-year plan. This will now be used to identify annual projects and help in budget preparations.

The financial year end is a busy time for the Clerk!

The Parish Council’s financial year ends on 31st March. At the end of each year, an independent internal audit is undertaken to ensure that the Council complies with the Public Sector Internal Audit Standards 2012, Section 5 (1) of the Accounts & Audit Regulations 2015 and the Council’s compliance with the Local Councils’ Practitioners Guide 2016. A report is issued to Council.

The Parish Council must then complete the Accounting and Audit procedures by approving the Annual Return – Annual Governance Statement and Annual Account Statements, submitting to the external auditor by 30 June. These statements are available for electors to inspect and are published on the website and main noticeboard.

Community Infrastructure Levy (CIL)

This is funding the Parish Council will receive as a result of housing development in the village. For each financial year, it is necessary for the Parish Council to account for receipt and expenditure financed by CIL funding. A report is included with the year-end reports.