Finance documents for Woodbury Parish Council
FINANCES
Budget / Precept / Council Tax
Every autumn Woodbury Parish Council discusses their budget; to see how much money it needs to carry out their functions, responsibilities and to be able to operate and to provide services in the forthcoming year (1st April – 31st March). The Parish Council’s income comes mainly from the Precept, which is a proportion of the Council Tax. During January’s Full Council meeting the budget for the forthcoming year is agreed and the Precept request is ratified.
The Precept request is then submitted to East Devon District Council and forms part of the overall Devon County Council Council Tax.
Click Here for an explanation on how the Council Tax is spent.
Your Council Tax is collected by East Devon District Council – EDDC Council Tax
RESERVES
General Reserves
As a Parish Council we hold between 3 and 12 months running costs as our General Reserves.
Earmarked Reserves
This type of Reserve the Parish Council sets aside funds for a specific project, initiative or expenditure. (A breakdown can be found under document for each financial year).
Our Investment Strategy and Risk Management Policy and Risk Register can be found under Policies & Procedures
Community Infrastructure Levy (CIL) enables local authorities to raise funds from new development to help deliver infrastructure. It is a financial charge which can be applied to new development in East Devon. East Devon District Council passes to the Parish Council 15% of CIL receipts that arise from development in our parish area. You can see how we have spent it each year with the CIL reports.
