On these pages, with the various accounts detailed on the left, we show how the Parish prepares its accounts by estimating in November the likely year end balance the following 31st March and then goes on to calculate the amount of money required for the coming year beginning 1st April known as the Parish Precept. The financial year runs from 1st April in each year and current practice is to examine the estimates half way into the financial year in October/November to see whether net expenditure is above or below the budget figures. It is at this time that estimates for the coming year, which will begin in six month and finish eighteen months ahead, are first prepared.
The first section page gives the ‘Summary’, on which the totals of the following pages appear i.e. ‘Administration’; ‘Burial Board’ (referred to as the Cemetery from 2002 onward) etc. Other section pages show the proposed ‘Grants’ to local organisations and the ‘Revenue’ and ‘Capital’ balances expected at the end of the current year and at the end of the financial year ahead.
The figures in the first column of the accounts show the previous years estimate that was compiled a year earlier, but now adjusted by the actual expenditure at the half way point. The second column shows the estimate for the next financial year, compiled on that same date, but taking account of inflationary increases experienced during the previous year, any change of circumstances not predicted and any planned expansion of services within the village. The last sheet shows the actual calculation of the Precept, with ‘Band D’ based on the existing ‘penny rate product’. When the revised product, which takes account of developments in the village, is announced by the District Council around the turn of the year, the actual precept sum, expressed as a payment for a band ‘D’ property, can be calculated.
The first section page gives the ‘Summary’, which totals the following section pages.
The second section shows the ‘Administration’ budget, including the general 'office' cost, such as salaries, the true practical cost of running the Parish.
The thirds section page shows the 'Cemetery' (know before 2002 as the ‘Burial Board’) this includes income from burial fees and the cost of maintenance and planting etc., necessary to keep the cemetery in a satisfactory condition for a deceased person's relatives to visit.
The fourth section page show expenditure on the 'Playgrounds' such as Cowley Park and Point Clear plus other areas of 'Open space' such as the Priory Meadow and our verges in general.
The fifth section lists the 'Grants' the Parish Council has made and the powers under which those grants are made. It also shows the 'Capital Fund', which apart from reserves shows the provisions set aside for projects around the village.
The sixth and final section shows how the 'Precept' is calculated, and an estimate of the Parish Precept for a band 'D' property, (with identification letters against certain items, so that their use further on can be followed). The last item is a statement of the 'Balances' carried forward to the next year.
Copied to each year head