25 Jan 2017

Finance report budget 2017-18

Chearsley Parish Council

16 January 2017

Finance Report

Budget 2017/8


This paper has been prepared on behalf of Chearsley Parish Council to support its proposal of a precept of £32.000 for the financial year 2017/8.

Current situation

At the beginning of the year 2016/7, the Parish Council had £21,360 in funds.  The precept for the year was £16,000.  Expenditure for the year is likely to be in the region of £34,000.  Of this £34,000, the single biggest item already incurred, was a payment of £7,500 to clear the backlog accumulated at the beginning of the year.   Routine running expenses for the whole year will be around £7,700, (these include salaries to the clerk and supporting clerk, accounting and audit, grass and tree cutting, rental and support for village projects).  The balance, £18,700 is accounted for by projects of a capital nature either incurred or expected to be committed.  Chief among those are: kerbing, £12,000, traffic calming survey, £3,600, work on the village bus shelters, notice board, etc, £3,100.

If all of these projects go ahead, the Parish Council will finish the year with £3,400 cash in hand.

Proposal for 2017/8

For next year, planned expenditure will be approximately, £32,000.

This figure has been arrived at, as follows:

Ongoing ‘routine’ expenditure has been budgeted based on the figures already known for 2016/7, except where existing commitments are in place, leading to different figures.  Specifically, work will be required on a number of the village trees which are either unsafe or in need of work, increasing the cost by £4,000.  A full year’s allowance also needs to be made for the salary and expenses of the Parish Clerk.  As a result of this, on-going expenses are likely to reach £12,250.

The second part of the budget comprises those projects of a capital nature.  The Council has a number of initiatives, which at this stage are not fully costed, but which reflect very closely the demands and requirements of the village. Chief among those are to continue the planned kerbing in the village, progress the traffic calming scheme, replace the telephone kiosk with a ‘defibrillator shelter’, securing the Green and providing electricity thereto, investigating the parking bays on Church lane which have fallen into disuse, and refurbishing the War Memorial where much of the cost will be met by a charity.

To meet the expected cost of these, the Council is putting aside £19,000.  This is in recognition that, where the cost assumptions used are not accurate, it may not be possible to go ahead with all of the projects.  In which case, the portfolio of projects will be prioritised to reflect the village’s needs.  In addition, a contingency of £750 has been included.

The total expenditure for 2017/8 is planned to be £32,000.  The Council wishes to retain the cash reserve accumulated at the end of 2016/7 of £3,400 to provide a level of contingency, and therefore seeks to fund its expenditure for the year by requesting a precept of £32,000.

Opening cash balance
Precept, (actual or proposed)
Clerk's salary
Road maintenance
Grounds maintenance
Village furniture
Village events
Village grants
(subtotal here £12,250)
Traffic calming
Other village projects*
Prior year items
Devolved responsibilities
Closing balance
Other Village Projects
Telephone kiosk/defibrillator
Electricity to the Green
Car parking bays
Protection of the green
Refurb of war memorial