Finance

Finance

Our financial year runs from 1 April to 31 March.  We agree an annual budget in December each year and also decide how much the annual Precept* should be set at.

We submit our annual accounts in the form of an Annual Governance and Accountability Return (AGAR) to an external auditor.

Key financial documents relating to the year ending 31 March 2019 can be found below:

Electors Rights Notice

Electors Rights Summary

Section 1 Annual Governance Statement 2018-19

Section 2 Accounting Statements 2018-19

Certificate of Exemption 2018-19

Year End Bank Reconciliation (31/03/2019)

Expenditure £100+

Public Land and Building Assets

Budget Forecast 2019/20

Key financial documents relating to the year ending 31 March 2018 can be found below:

Annual Governanace Statement 201718

Section 2 – Accounting Statements

Annual Internal Audit Report 201718

Exercise of electors’ rights

Certificate of Exemption

Year-end bank reconciliation

Explanation of significant variances

Expenditure £100+

Public Land and Building Assets

Budget forecast 18-19

*Parish Councils are empowered to raise money for their activities through a tax (the “Precept”) on the village residents which is collected on their behalf by the District Council, as an addition to the District and County Council Tax. This is then paid to the Parish Council in two equal instalments.

Annual return documents relating to previous years can be obtained from the Clerk.

~ ~ ~

The Council Tax Precept

The precept is the Parish Council’s share of the council tax.  The precept demand goes to the billing authority North Norfolk 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.