About our Finances

All Local Council Financial Years start on 1st April and finish on 31st March. Our financial governance is based on recommended practises which are detailed in “Governance and Accountability 2010” and based on the Accounts and Audit Regulations 1996 as amended. There is other legislation which guides us in what we have to do. Our financial year follows a strict pattern. We must have our Accounts and Annual Return approved by the Town Council on or before the 30th June and the Annual Return must be received by the External Auditor by the second week in July. We prepare our budget in November.

In to our budget we build in general and earmarked reserves for our projects and functions. We also have an Internal Auditor and Internal Control Officer. At each meeting of our Council our members approve the payments for the previous month. Each quarter the councillors receive budgetary reports and bank reconciliations.

Useful documents:

Financial Statement

 

Our sources of funding

We have few sources of funding other than the precept. The precept is the amount of money which we ask North Norfolk District Council to collect on our behalf each year from our parishioners.

Our budgets details the precept and also give detail of our other sources of income – the cemetery, grants and donations we may have received, rents and car parks and other items.

Our expenditure includes staff salaries; administration (including insurance and audit); street lighting costs for repairs and electricity; costs relating to the running of our public toilets, open spaces, cemetery and donations which we may give out. Included in our budget there may also be costs to cover current projects which we are undertaking.

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