Income

The largest source of income, by far, to the Parish Council is the ‘precept’ that is added to a property’s Council Tax bill. In summary, an amount is added to the Council Tax bill that is then forwarded to the Parish Council.

Each year, the Parish Council has to decide how much money it needs to raise in order to finance its expenditures.

An occasional source of additional income are “Neighbourhood CIL Payments”. [CIL = Community Infrastructure Payments]. If there is a development in the village that gives rise to the developer having to make a Community Infrastructure Payment to East Suffolk Council, the Parish Council receives 15% of that payment. [The payment would be 25% if the Parish had a Neighbourhood Plan.] There is a requirement that any Neighbourhood CIL payment has to be spent on ‘infrastructure’ within a specified period of time, and has to be accounted for.

The final element of income is a very small amount of income coming from interest payments on interest-bearing accounts that the Parish Council has. The amount held in reserves in interest-bearing accounts is small, and with interest rates low, the annual income from these payments has been only a few pence in recent years.

Expenditure

Most of the expenditures that the Parish Council makes are payments that it has to make, in effect – it doesn’t have a choice about whether to make such payments or not.
In the documents below it is set out clearly, what these payments are.

Below you can see the background to Ilketshall St. Andrew Parish Council finances for each year stated.