2014/15 precept and budget 1

2014/15 budget and precept

Histon & Impington Parish Council

January 2014

January 2014

2014/15 precept and budget 2

• 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

January 2014

The budget for 2014/15 is a little over £400 thousand

Nett 2013/2014

actual

Nett 2014/2015

budget

Nett 2013/2014

budget13/14 A vs

13/14 B14/15 B vs

13/14 A£295,308 £404,041 £333,462 -£38,154 £108,733

Nett 2013/2014

actual

Nett 2014/2015

budget

Nett 2013/2014

budget13/14 A vs

13/14 B14/15 B vs

13/14 A£267,808 £282,991 £305,962 -£38,154 £15,183

2014/15 precept and budget 3

This year most committees will have underspent

• Specifically:• in Youth fewer

projects were delivered;

• in Highways there was slow progress on jointly funded schemes; and

• in Environment income was much increased

January 2014

Committee

Nett 2013/2014

actual

Nett 2013/2014

budget13/14 A vs

13/14 BPlanning £250 £3,906 -£3,656Youth £13,651 £21,658 -£8,007Recreation £19,895 £18,333 £1,562Highways £4,686 £15,314 -£10,628Environment £42,017 £53,110 -£11,093Kings Meadow £500 £0 £500Payroll £119,123 £122,560 -£3,437FL&A £67,686 £71,081 -£3,395Contingency  Total £267,808 £305,962 -£38,154

2014/15 precept and budget 4

Next year we will increase spend in some

areas

• There will be extra spending• to support the

Neighbourhood Plan;

• to deliver more Youth projects

• to support King’s Meadows; and

• to cover increased payroll costs

January 2014

Committee

Nett 2013/2014

actual

Nett 2014/2015

budget14/15 B vs

13/14 APlanning £250 £7,200 £6,950Youth £13,651 £22,000 £8,349Recreation £19,895 £16,135 -£3,760Highways £4,686 £4,100 -£586Environment £42,017 £29,503 -£12,514Kings Meadow £500 £5,000 £4,500Payroll £119,123 £126,863 £7,740FL&A £67,686 £66,190 -£1,496Contingency   £6,000 £6,000Total £267,808 £282,991 £15,183

2014/15 precept and budget 5

• 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

Bypass Farm is not yet an approved project but …

2014/15 precept and budget 6

• 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

January 2014

Our budget is a mix of revenue and capital

Committee

Budget 2014/2015

Revenue

Budget 2014/2015

CapitalIncome

2014/2015

Nett 2014/2015

budgetFrom

reservesFinal Nett

2014/2015Planning £7,200 £7,200 £7,000 £200Youth £22,000 £0 £22,000 £22,000Recreation £38,720 £12,000 £34,585 £16,135 £16,135Highways £1,600 £2,500 £4,100 £2,500 £1,600Environment £38,688 £2,815 £12,000 £29,503 £2,500 £27,003Kings Meadow £200 £4,800 £5,000 £4,800 £200Community Facilities £53,050 £72,500 £4,500 £121,050 £100,550 £20,500Payroll £126,863 £126,863 £126,863FL&A £73,190 £0 £7,000 £66,190 £66,190Contingency £6,000 £6,000 £6,000Total £367,511 £94,615 £58,085 £404,041 £117,350 £286,691

2014/15 precept and budget 7

• 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

In 2013/14 our funding came from a mix of

sources

2014/15 precept and budget 8

• 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.

January 2014

This means that we have limited options this year

…

2013/14 base precept £263,200

Support Grant £19,288

sub total £282,488

total need for 2014/15 £286,691

remaining £4,203