Finances

Overview

The financial year for Wing Parish Council begins on 1 April and ends on 31 March.

Parish Councils do not receive a direct grant from Government.

The Precept

The main source of income for the Parish Council is raised by the levy of a Precept and is collected through the Council Tax.

In determining the Precept for any given financial year, Wing Parish Council must calculate the aggregate of:

• The expenditure it expects to incur in the forthcoming year
• An appropriate allowance for contingencies
• The financial reserves it estimates will be appropriate for future expenditure
• Any financial reserves required to account for financial deficits not already provided for
• Statutory responsibility for the handling of all financial transactions rests with the Parish Council as a whole.

The Precept for 2023-24 is £155,600.00.

Like all local authorities, Wing Parish Council must manage their activities within budget and prepare accounting statements and a governance statement for each financial year, which must be independently externally audited.

Published accounts