2022-23 Budget and Precept
Date Added: 09/03/2022
Sandy Town Council set the budget and precept for the year ending 31 March 2023 at a Full Council meeting on Monday 24th January 2022.
The agreed 2022/23 budget and precept request will result in an increase of £5.62 a year, or 10.8 pence a week for the average (Band D) taxpayer in Sandy. Band D households will pay £154.86 in 2022-23 for all the services Sandy Town Council provides.
As with other financial years all aspects of the Council’s budget were scrutinised and evaluated to reduce costs and make efficiency savings where possible while ensuring that its core functions are adequately resourced. The Council started its budget review process in September and the Policy, Finance and Resources Committee formally reviewed the budget at four public meetings prior to making a recommendation to the Town Council.
In total, the Council made approximately £8,869 in budget reductions, and an overall increased income of £2,475 set against required budget increases of approximately £39,500.
It has been necessary for the Council to agree an increase in this year's budget, primarily due to increased contract and utility costs outside of its control. The areas that account for a growth in the budget include increased costs for utilities, business rates, legal costs, staffing, leases, and agreements to which the Council is obligated. A large part of the increase was due to a rise of up to 130% in the cost of electricity, which is impacting service providers and households across the country. The Council was able to negotiate a best possible cost with a new provider following the collapse of its previous electricity supplier.
The Council was able to make reductions in administration costs, specifically its printing/stationery, copier and IT budget costs, along with savings in service provision and property maintenance.
The Town Council recognises the importance of providing a best value service and keeping costs down. As such, service providers and contracts are continually reviewed to ensure best value and the Council actively applies for additional support funding wherever possible to help alleviate the burden on the Precept. Over the last 12 months the Council successfully obtained approximately £130,000 in external and grant funding to support projects and activities.