Financial budget, record and forecast
The financial year runs from the 1st April to the end of March.
Each year the Parish Council sets a budget for the coming year. It is first discussed at the November and December PC meetings, leading to the formal adoption of the new budget at the January or, in exceptional circumstances, the February meeting.
The chart below shows the 2022-23 year BUDGET as approved by the SMPC in 1Q2022 along with the expected outturn position for the financial year and finally the BUDGET for the coming financial year as approved in January 2023.
The budget for the 2022-23 year was set with a surplus of £7,858 but with the expectation that some capital projects would be undertaken. In the event the projects include:
- tree plantings
- a major rework of the play area (tree removal and new fencing)
- installation of EV chargers (1Q2023)
- WiFi for the recreation ground buildings (1Q2023)
Grants were obtained where possible bringing in around £9,000 of additional funding. We are grateful to the South Cambs District Council and Energy Savings Trust for this support.
It is now forecast that at year end, the surplus will be smaller, at around £4,000, but still positive.
The Parish Council claim a share of the council tax, this is the so called Precept. For the 2023-24 financial year the PC intend no increase to the Precept charge. This will hopefully help parishioners who are facing increases in most costs at present.
A repaint of the Pavilion/Reading Room is included in this next financial year but a modest positive surplus is still planned. No other major capital projects are included at this time although it is envisaged that we will carry out some major upgrade to the car parking area at the recreation ground and the cost of this will be met from our project reserves.
The SMPC discussed the 2023-24 budget at the PC meeting to be held on 9th January 2023 and it was approved.