Town and Parish councils, irrespective of their size, have a statutory duty to prepare an annual budget. The budget process:
- Results in the council setting the precept for the following year
- Gives the clerk overall authority to make spending commitments in line with the decisions of the council
- Enables progress monitoring during the year by comparing actual spending against planned spending.
The budget is one of the most important annual tasks that the council must undertake and is required as part of ‘proper practices’ set out in the Practitioners’ Guide. It is not lawful to set a precept unless a budget has been prepared and approved.
The ‘precept’ is a balancing figure, referred to in legislation in England as ‘the council tax requirement’ after taking into account projected expenditure, other estimated income and any transfers to or from reserve.
Beverley Town Council also has a statutory duty to make sure its finances are transparent and there are various different documents that are published online to help achieve this.
You can view audits, annual returns, the budget, precept information and more via the drop-down menu on the Finances tab.