Parish Precept & Budget 2024/2025

The Parish Council, at its Full Council meeting at the Education Room in Welbeck, met to agree on the Annual Budget for the forthcoming year and the level of Precept to be levied.

In order to set both a balanced and sustainable budget for the forthcoming year as required by law, the Council has elected to raise its element of the Council Tax called the Parish Precept by £4.51 for the 2024/2025 fiscal year in order to meet its total budget requirement – details below:

Total Budgeted Expenditure: £19,247.00
Total Requested Precept: £15,960.00 (+£1,000.00)
Impact on Parish Council Taxpayer (Band D): £54.00 (+£4.51)

The Council is very much aware that news of a further Council Tax rise for residents, especially in Holbeck and Welbeck, will come as a disappointment. However, the Council is required to present a balanced budget, which for the past year has been met by taking funds out of the Council’s reserves; this practice is not sustainable in the long run, and as a consequence, the Council felt best that in order to close the gap between total expenditure and revenue, a gradual rise was necessary.

For comparison, the Norton, Cuckney, Holbeck and Welbeck Parish Council remains the second cheapest local Parish to live within despite the increase in the level of Council Tax.

The Council is keen to address some of the key concerns that may arise as a result of this news:

Why has the Council been using its reserves?

Prior to the creation of the Parish Council, the shadow Council consisting of members of the former Norton & Cuckney Parish Council and the Holbeck and Welbeck Parish Council, along with Bassetlaw District Council, set a level of Precept which averaged between the two former Councils. This was primarily done to protect residents in Holbeck and Welbeck from an exponential rise in the level of precept, which was previously above £90.

Unfortunately, this level of Precept is insufficient to meet the fiscal demands of the Council’s existing services, the majority of which the Council has a legal duty to provide, leaving little room for broad spectrum cuts. So, in order to meet the Council’s expenditure for the previous fiscal year, the Council has had to use funds from its reserves to meet day-to-day expenditure.

Why is the Council spending more money than last year?

Like most families and businesses, the Parish Council has seen an increase in its day-to-day costs as a result of inflation, but in addition to this, the Council has been required to meet rises in both the National Living Wage and a rise in the rate of pay agreed by the National Joint Council for Local Government Services which has created a large increase in the Parish Council’s wage bill.

What steps is the Council taking to balance the books?

The Council is taking steps to review its existing spending and is looking to find efficiency savings in its current services before taking on new projects. The Council is determined to only use Council Tax rises as a last resort if efficiencies cannot be found in existing expenditure.

As illustrated above, the majority of the Council’s budget is ringfenced to pay for the Council’s staffing bill, which consists of the salaries of both the Clerk/Responsible Financial Officer and the Parish Lengthsman. While the actual cost of the administration of the Council is fairly minor in comparison.

Ultimtately, the Parish Council would like to reassure residents that the Council does take the issue of Council Tax rises seriously and that it is taking active steps to achieve value for money and to find efficiencies wherever and whenever they arise. It is the Council’s aim to be able to present a long-term fiscal plan to the Parish over the coming financial year.

Should you have any questions regarding the Parish Council’s budget for the next financial year please do feel free to get in touch with the Responsible Financial Officer: Mary Welch