The Council Tax Precept and Finances

Our financial year runs from 1st April to 31st March.  We agree an annual budget in November each year and also decide how much the annual Precept should  be set at.  The precept requested for 2025-2027 is £7,500.00.  We submit our annual accounts in the form of an Annual Governance and Accountability Return (AGAR) to the external auditor. The Section 137 limit for 2026 - 2027 will be £11.60 from 1sty April 2026.  This figure is calculated in accordance with the Schedule 128 pf the Local Government Act 1972.  Section 127 allows the local council to incur expenditure which benefits their community where is otherwise no Power to do so.  The annual maximum, that can be spent is £11.60 multiplied by the number of electors.

The precept is the parish council’s share of the council tax.  The precept demand goes to the billing authority, Breckland District Council, which collects the tax for the Parish Council. The 'Precept' is converted into an amount per Council Tax Band that is added onto the Council Tax bill.  Income and expenditure for the next financial year are calculated in the form of estimates. 

Parish and town councils can apply for other funding such as grant and funding awards, but they do not receive funds direct from central government as principal authorities do.