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2014/15 budget and precept for Histon & Impington Parish Council
- 1. 2014/15 budget and precept Histon & Impington Parish Council January 2014 January 2014 2014/15 precept and budget 1
- 2. The budget for 2014/15 is a little over £400 thousand Nett 2013/2014 actual £295,308 Nett 2014/2015 budget £404,041 Nett 2013/2014 budget £333,462 13/14 A vs 13/14 B -£38,154 14/15 B vs 13/14 A £108,733 • That’s 21% up on this year’s budget and 37% up on the year end estimate. • However the 2014/15 budget includes £121 thousand for the acquisition of and early site work related to Bypass Farm • Exclude this and there’s a reduction of 8% on this year’s budget and an increase of just 6% on the year end estimate Nett 2013/2014 actual £267,808 January 2014 Nett 2014/2015 budget £282,991 Nett 2013/2014 budget £305,962 13/14 A vs 13/14 B -£38,154 2014/15 precept and budget 14/15 B vs 13/14 A £15,183 2
- 3. This year most committees will have underspent • Specifically: Committee Planning Youth Recreation Highways Environment Kings Meadow Payroll FL&A Contingency Total January 2014 Nett 2013/2014 actual £250 £13,651 £19,895 £4,686 £42,017 £500 £119,123 £67,686 Nett 2013/2014 budget £3,906 £21,658 £18,333 £15,314 £53,110 £0 £122,560 £71,081 13/14 A vs 13/14 B -£3,656 -£8,007 £1,562 -£10,628 -£11,093 £500 -£3,437 -£3,395 £267,808 £305,962 -£38,154 • in Youth fewer projects were delivered; • in Highways there was slow progress on jointly funded schemes; and • in Environment income was much increased 2014/15 precept and budget 3
- 4. Next year we will increase spend in some areas • There will be extra spending Committee Planning Youth Recreation Highways Environment Kings Meadow Payroll FL&A Contingency Total January 2014 Nett 2013/2014 actual £250 £13,651 £19,895 £4,686 £42,017 £500 £119,123 £67,686 £267,808 Nett 2014/2015 budget £7,200 £22,000 £16,135 £4,100 £29,503 £5,000 £126,863 £66,190 £6,000 £282,991 14/15 B vs 13/14 A £6,950 £8,349 -£3,760 -£586 -£12,514 £4,500 £7,740 -£1,496 £6,000 £15,183 • to support the Neighbourhood Plan; • to deliver more Youth projects • to support King’s Meadows; and • to cover increased payroll costs 2014/15 precept and budget 4
- 5. Bypass Farm is not yet an approved project but … • We will decide next month whether or not to acquire the property. • If we do then we will first of all conduct a comprehensive consultation to determine what we should do with it. • It is then likely that we will begin spending on site preparation late in 2014/early in 2015 • Long term it is likely that the Parish Council will need to fund a substantial development and £20k plus per year extra costs • If we acquire Bypass Farm it can’t be used for housing January 2014 2014/15 precept and budget 5
- 6. Our budget is a mix of revenue and capital • The capital element can be largely funded out of reserves. Some revenue expenses can be similarly funded. • This leaves net funding from the precept of about £287K Committee Planning Youth Recreation Highways Environment Kings Meadow Community Facilities Payroll FL&A Contingency Total January 2014 Budget 2014/2015 Revenue £7,200 £22,000 £38,720 £1,600 £38,688 £200 £53,050 £126,863 £73,190 £6,000 £367,511 Budget 2014/2015 Capital £0 £12,000 £2,500 £2,815 £4,800 £72,500 Income 2014/2015 £34,585 £12,000 £4,500 £0 £7,000 £94,615 £58,085 Nett 2014/2015 budget £7,200 £22,000 £16,135 £4,100 £29,503 £5,000 £121,050 £126,863 £66,190 £6,000 £404,041 2014/15 precept and budget From reserves £7,000 £2,500 £2,500 £4,800 £100,550 £117,350 Final Nett 2014/2015 £200 £22,000 £16,135 £1,600 £27,003 £200 £20,500 £126,863 £66,190 £6,000 £286,691 6
- 7. In 2013/14 our funding came from a mix of sources • The precept. This was the main part; • Section 106 funding. This can be considerable but cannot be budgeted in year because we don’t know how much it will be or when it will be paid; • Localised Council Tax Support. This is a grant from central government paid via South Cambs and amounted to £19288. • South Cambs has indicated that it will not pay this support for 2014/15 despite central government being clear that it should do so; and • Draw down of reserves. In order to avoid an increase in precept the Parish Council chose to do this. January 2014 2014/15 precept and budget 7
- 8. This means that we have limited options this year … • The Parish Council has chosen to raise the precept by an amount equal to the Local Council Tax Support Grant which it is entitled to but will not receive • This is £19288 and is 7.33% of the base precept and will increase the precept to £282488 • That leaves £4203 unfunded • The Parish Council proposes to fund this outstanding amount from reserves. 2013/14 base precept £263,200 Support Grant sub total £282,488 total need for 2014/15 £286,691 remaining January 2014 £19,288 £4,203 2014/15 precept and budget 8