Kidlington Parish Council

Budget and Precept

Parish councils have a statutory duty to prepare an annual budget which allows the council to request a precept for the following year.

The precept is a balancing figure, referred to in legislation as ‘the council tax requirement’ after considering projected expenditure, other estimated income and any transfers to or from reserves.

A budget proposal is prepared by the Responsible Financial Officer and presented to the council in the autumn. It includes plans for expenditure on services and projects and considers income received by the Council.

Expenditure and income are monitored throughout the year with quarterly reports to the Finance and Assets Committee.