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Precept & Budget

a drawing of a stack of coins

Precept & Budget

This budget  is called the ‘Precept’, and is the amount the Town Council asks from Eden District Council as a proportion of the Council Tax paid by householders of Penrith. The Council utilises  the precept, to provide its services and deliver its Council Plan.

The Town Council’s portion of Council Tax bill depends on which band a property is in. Properties are put into one of eight bands, A being the lowest, and H the highest, with Band D being the average.

2020/21 BUDGET

The Town Council has approved a budget for the year commencing on 1 April 2020 which requires a precept (or levy) of £454,233 to pay for Council services.  Eden District Council is notified of the amount of the precept and collects the money on behalf of the Town Council from council taxpayers in Penrith.

The precept is an increase of £16,420 from the precept levied for 2019/20.  The increase pays for inflation and improvements to services, including the delivery of an Arts and Cultural Strategy, Community Engagement, Town Projects, a new Solicitor post and Training for Councillors and Officers.

The precept of £454,233 represents an annual Council Tax of £83.09 for a Band D property.  This is an increase of £1.39 pa or 1.7% from the 2019/20 Tax.  The percentage increase matches that applied to non-pension State benefits from April 2020.

The budget report considered by Full Council can be viewed HERE

A summary of the 2020/21 Budget is available from office@penrithtowncouncil.co.uk

A fuller explanation of the precept increase is as follows:

£ £
2019/20 Precept   437,813
Net reduction in Planning Committee expenditure (5,000)
Removal of one-off addition to Town Projects budget (15,000)
Reduction in Greening budget (6,000)
Increase in Community Engagement budget to reflect planned involvement, including the Youth Advisory Panel 13,240
Salaries:

· Full year cost of Solicitor post £11,630

· Anticipated 4.0% pay award April 2020 £7,800

· Incremental advances £3,510

· Net increase in superannuation contributions £640

· Removal of one-off training costs (£1,300)

 

 

 

 

 

22,280

Reduced expenditure on Civic Functions and Cost of Democracy, including £5,420 on Elections (7,970)
Increased IT budget to reflect current requirements 4,720
Increased website costs to meet ongoing accessibility regulations 1,030
Increase in insurance premia 1,400
Reduction in external accountancy fees (4,300)
Reduction in budget for Repairs & Renewals (2,000)
2020/21 Allowance for Growth Items 27,170
Adjustment to contribution from General Reserve, including the use in 2020/21 to meet 2019/20 slippage (13,851)
Other minor variations (net) 701
16,420
Approved Precept 2020/21 454,233