Precept Set – No Increase
Each year, the council sets a budget and from that its Precept, which is its request for funds from West Northants Council. This is what ends up on your rates bill.
The Parish Council set the budget at the December Council Meeting. The minutes of which are available on the website. In principle, the Council set out to maintain the precept at near its current level, whilst maintaining and improving the infrastructure and amenity of the village.
Despite the inflation and other pressures, the Parish Council has managed to maintain the precept at £19,137 which is exactly same as last year.
Key Figures:
- Total Budget: £25,238.
- Precept: £19,137
- Last Years Precept: £19,137
- Increase 0%
Operationally, the Council’s main responsibilities are for grass cutting of public spaces, lighting (both maintenance and power), maintaining and managing the playground. This uses up 40% of the Precept.
In order to function, the council must by law have a clerk, bank accounts, insurance etc. The council also needs to be registered for data protection etc. These costs represent a further 37% of the Precept.
This leaves 23% of the Precept for more discretionary spend. For 2026/27 this includes refurbishing the telephone box as Community Asset, Additional speed cameras etc to reduce traffic issues, additional plantings in public space to enhance the village atmosphere, and funds for as yet unidentified village improvements. These projects are in addition to those which are due to be complete in 2025/26 year, ie playground gate, cherry hill defib new case, and new Light in Faxton End.
The budget in detail is as below. You will note that the total budget exceeds the Precept. In previous years the council underspent its budget, creating surplus. This increased the level of reserves the council holds.
As a general rule, councils should hold 50- 75% of their operational budget as a reserve ( ie have that much in the bank at any time) as a contingency against issues with receiving Precept. The Council should also keep reserves in place for things that are either known risks or future expenses. So, for example, it is possible, that the parishioners can demand an election at any time. The potential cost of that is held as a reserve.
If the council wishes for example to refurbish the playground, but increasing the precept to pay for it in one year is too much, the council can create reserve which it increases each year till it has sufficient funds to make the refurbishment without a big jump in Precept.
The Council in 2026/27 is intending to release some of the reserves to pay for the projects in the budget.
Colin Smart (Chair Old Parish Council)
