Council Financial Reporting
Local Audit and Accountability Act 2014
This sets out a new audit framework for local public authorities which are currently covered by the Audit Commission regime. Under the new audit framework smaller authorities, including parish councils, internal drainage boards, charter trustees and port health authorities, with an annual turnover not exceeding £25,000 will be exempt from routine external audit. In place of routine audit, these smaller authorities will be subject to the new transparency requirements laid out in this Code. This will enable local electors and ratepayers to access relevant information about the authorities' accounts and governance. Such authorities should publish:
- All items of expenditure above £100
- End of year accounts
- Annual governance statement
- Internal audit report
- List of councillor or member responsibilities
- The details of public land and building assets
- Minutes, agendas and meeting papers of formal meetings
The annual financial reports for Hunsbury Meadows Parish Council can be found below
Precept Financial Year 2021-22
Every year the Parish Council decides on the tax or precept it needs to collect in the next financial year depending on its expenses and what works, or activities are planned in the coming financial year. For the previous five years the Parish Council has kept this precept fixed meaning there has been a real-world reduction in the precept.
However, people may have seen that on their Council Tax bill for the coming financial year that the component for Hunsbury Meadows Parish Council has significantly dropped.
Because the Parish Council has good financial reserves and due to the Pandemic curtailing a lot of planned activities, the Parish Council has decided to support residents by providing a one-off reduction in the precept for the next financial year 2021-22 and has reduced the amount of tax we are planning to raise by £14,700.
We know that the pandemic has been very challenging for people in different ways, and we believe that this reduction in precept is one of the best ways we can support the community.
This means that residents will see a reduction in the Parish Council component of the Council Tax of up to 60% or more, depending on which band your house is in.
Please note that this is a ONE-OFF reduction and in 2022 the Parish Council will be raising a normal precept for the financial year 2022-23 so people will see an increase in the Parish Council component back to normal levels