Each year the Town Council sets a budget with planned income and expenditure for the coming financial year (the financial year runs from 1 April to 31 March). Copies of the current and past years’ budgets can be accessed below with an explanatory note on how the Council’s share of the Council tax (precept) is set and spent.
How the Town Council is funded
The majority of the town council’s income is from the precept – part of the council tax and collected from household by Cornwall Council on the town council’s behalf. Income is also generated through property rental income, grants, Guildhall bookings and weddings, and the income generated by the St Ives Visitor Information Centre (ie Memberships, advertising, sales).
Annual Approved Budget
Statement of Accounts
The Statement of Accounts is prepared after the financial year and sets out the financial activities carried out in that year.
Each year, town and parish councils have to produce a summary of their accounts, along with a statement which demonstrates that there is adequate governance and control in place. This is provided in the form of the Council’s Annual Governance and Accountability Return which is then submitted to the Government’s external auditor for evaluation. Further information about the external auditor and their procedures can be found at www.pkf-littlejohn.com. Click here for all Annual Returns.
Local Government Transparency Code (2015) Information
- Under the code, all Councils are required to publish regular information on the following:
- Payments made over £500
- Contracts let over £5,000
- Land and Assets
- Senior Officer Pay