Each year the Town Council sets a budget with planned income and expenditure for the coming financial year. The budget setting process usually takes place between December and February of the following year (the financial year runs from 1 April to 31 March). Individual service committees review their own budgets and make recommendations to Finance & General Purposes Committee, which in turn, recommends a budget to Council for adoption.
The Town Council has set its budget and established its precept for the financial year of 2021/22. It was resolved at the Full Council meeting on the 10th of December 2020 that an annual £16.54 increase would be introduced based on a Band D property.
How the Town Council is funded
Just over 75% of the Town Council’s income comes from “the precept”, which is the Town Council’s share of the Council Tax collected by Cornwall Council on the Town Council’s behalf. Income is also generated through property rental income, grants, room bookings, events, weddings and the library shop.
Further information is contained in the relevant annual approved budget document and the explanatory note below.
Annual Approved Budget