Parish Finance

Local Council Finance

This section provides an overview of the Council's finances, if you require further information please contact the Clerk using the contact details on the Parish Council Information page under Council and Staff Contact Details.

Precept and Income

The main source of income for a council is from the precept. The precept is collected by the District Council through residents paying council tax.

Councils can also raise income through providing services and activities. The precept and income enable the council to deliver services.

The functions that a council can provide are set in government legislation and they include things councils must do (e.g. hold a certain number of meetings per year) and things councils can do (e.g. encourage tourism or provide recreation grounds).

Councils usually agree their budget and precept around January time for the forthcoming financial year. The financial year for a council runs from the 1st April – 31st March, with councils being required to approve and publish their accounts for the previous financial year after the 31st March and before the 1st working day in July.

Precept Amounts

West Lindsey District Council is the billing authority who collects the Council Tax and then pays the Council the agreed precept amount, to enable the council to deliver its functions. The council sets its precept after considering its budget and plans for the forthcoming year. Below are the amounts for recent years:

£177,051              2017/18

£158,654              2016/17

£158,654              2015/16

£150,330              2014/15

Accounts, Audit and Budgetary Control

Government legislation sets out how councils should account for the public funds they manage and the rights local taxpayers have in relation to those accounts. These Acts and Regulations are frequently updated.

It is the council as a whole, as a corporate body, that is responsible in law for ensuring that its financial management is adequate and effective and that the council has a sound system of internal control which facilitates the effective exercise of their functions and manages risk. The Council has in place Financial Regulations which guide this process (available on the Parish Council Information under Council’s Formal Documents).

Internal Audit is carried out during the year by a person independent of the Council and its Councillors, with the Annual Return and External Audit being completed after the year end. The completed Annual Returns which are submitted as part of the External Audit process are available below.

For more detailed information on the accounting and audit process and the associated proper accounting and governance practices visit the NALC website where you can view the Governance and Accountability for Local Councils A Practitioners' Guide (web link below).   

Loans

Currently the Council has three loans, two of which are from the Public Works Loan Board. Details are provided below:

1. Works to complete St Andrews Centre Lift, toilets refurbishment, and office alterations.

Total Loan taken out on September 2011: £70000

Two payments per year of: £3440.14 (including interest)

Period of Loan: 12 years

2. Works to complete St Andrews Centre Library, kitchen and entrance to Centre.

Total Loan taken out on August 2012: £50000

Half-Year repayments: £2733.25 (including interest)

Period of Loan: 10 years

3. Purchase of two Kubota Mowers

Total loan taken out May 2015: £26,940

Monthly repayment: £409

Period of loan: 38 months


Accounts for the Year Ended 31 March 2017

Please see documents below:

Notice of Conclusion of Audit

Certified Annual Return

Notice of Date of Commencement of Period for the Exercise Of Public Rights.

Declaration of Status of Published Accounts.

Annual Governance Statement.

Accounting Statements.