The Parish Council is financed by a precept which is a tax on the residents of the parish, collected by Cherwell District Council as part of the Council Tax bill. In 2021-22 it amounts to £4987. The amount of the precept is decided annually by the parish council as part of its budgeting process.
In the autumn of each year, the Parish Council estimates likely income and expenditure for the coming financial year (1st April to 31st March) and develops a draft Budget. The draft budget is discussed, amended where appropriate, and approved at a Parish Council Meeting in December or January, and our Precept Notification, based on our approved Budget, is then submitted to Cherwell District Council by late January.
Financial progress through the year is reviewed at each Parish Council Meeting.
Financial management is governed by the Parish Council‘s Financial Regulations which are regularly reviewed, and all documents relating to our current Finances can be found in our Reference archive.
The main items of our Parish Council expenditure are:
- Administration & governance, including: Parish Clerk salary & expenses, meetings charges, Insurance and Training
- Running and upkeep of the Playing Field, including insurance and the annual safety inspection of the equipment
- Grass cutting of Playing Field, road side verges, and maintenance of the drainage channels (grips), as part of an agreement with OCC.
- Membership subscriptions of support associations, including OALC (Oxfordshire Association of Local Councils)
- Donations & Grants to local organisations, including the Epwell Echo and the annual Poppy Appeal
Financial Information for year ending 31st March 2022