THE ANNUAL TOWN COUNCIL PRECEPT
Most of the Town Council's income comes from the Annual Precept. Each year the Council sets a budget for the following financial year and agrees a Precept to meet this anticipated expenditure.
The Town Council is solely responsible for deciding how this money should be spent.
When you, as a Bungay resident, receive your Council Tax demand for the year from Waveney District Council,you will find that this money goes to Suffolk County Council; Waveney District Council, the Fire Service; the Police, and Bungay, in the form of the Town Precept.
The Precept is an annual amount that goes towards the provision of Bungay services not paid for by the other authorities.
It covers the Town Clerk's salary, local projects, and contributions to local organisations in need of funds.
The agreed annual precepted sum is divided among all households in Bungay in accordance with their Council Tax banding.
Budget and Precept Report 2016/17
The Council finalised the budget for the financial year to 31st March 2017 (2016/2017) at the full meeting of the Council held in January 2016.
Expenditure of £101K for the year is planned, an increase of £29K over the previous year. This relates primarily to additional admin, staff and office costs (an addition of £21K), a subsidy to Waveney District Council to ensure the continuation of the free first hour parking in the town's pay and display car parks (cost £2K) and Riverside Centre revenue provision (£3K).
In addition the Council will continue to support financially the deployment of an extra Suffolk Constabulary Police Support Officer (cost £15K) and to provide dedicated litter picker/ street cleaning services (cost £12K). Other major planned expenditure relates to grant support for local organisations (cost £7K), provision for future election costs (£7.5K) and property and other insurance costs (cost £4K). In addition provision has been made to contribute £3K towards highway improvements in Earsham Street.
The Council anticipate receiving rental and other investment income of £6.5K for the year and have supplemented this by raising a precept of £62K. The precept is paid by those occupying residential property in the town on the basis of council tax bandings. The charge is collected for the Town Council by Waveney District Council and forms part of the council tax charge which has recently been notified to householders; the precept per household is shown separately on this notification.
Despite the planned increase in expenditure the amount of the precept remains unchanged because the increase is met by planned expenditure for 2015/2016 which, in the event, was deferred and will now occur in 2016/2017.
Bungay Town Clerk