The Council sets Precept for 2025/2026
Date Added: 24/01/2025
At a Full Council meeting on 20th January, it was agreed that the 2024/25 budget is increased by £52,652 which accounts for a 7.73% rise in the agreed budget of £680,302 for 2024/25. In addition, the precept requirement for 2025/26 was agreed at £733,404 which equates to £180.37 a year based on Band D (or £23.72p per week). This reflects an increase of £12.37 on current annual charges. It was noted that due to an increase in the tax base of 0.35% the overall increase for 2025/26 would stand at 7.36%.
It was also agreed that the Rolling Capital Fund allocation for 2025/26 should remain at £51,300 and any underspend from 2024/25 would be transferred into the Rolling Capital Fund on 1st April 2025. The budget and precept were both unanimously voted through by Members in attendance.
All aspects of the Council’s budget were scrutinised and evaluated to make efficient savings where possible while ensuring that its core functions are adequately resourced.
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. The 2025/26 budget has been increased to cover all current services while also considering expected rising tariffs for utilities. Next year’s precept also contains a substantial £7,000 increase requirement for National Insurance payments as per the Chancellor’s 2024 Autumn Budget announcement.
The Council continues to actively apply for additional support funding wherever possible to help alleviate the burden on the Precept.