Council Finance, Budget & Precept
Income
The main source of income for a council is from the precept, which comes from residents paying their council tax. Councils can also raise income through providing services, facilities and activities. The precept and any additional income enables the council to deliver services. The functions that a council can provide are set in legislation and they include things councils must do ('a duty'), such as holding a certain number of meetings per year, and things councils can do ('a power'), such as providing recreation grounds or sports facilities.
Heighington Parish Council receives other income from hire of the Jubilee Hall, sporting hires at Station Road and Potterhanworth Road, and bank interest. We also receive income from the clothing bank based at the Jubilee Hall. This income is allocated to reserves, for use on community projects.
The financial year for a council runs from 1st April to 31st March, with councils required to approve and publish their accounts following the year-end.
Budget
The council starts its budget-setting process in October, for the forthcoming financial year. It takes account of predicted expenditure and income for the current year, allows for inflationary increases next year, any known additional costs for next year, plus any forthcoming council projects or plans. Based on this information, the budget is set.
Council then decide how much of the budget requirements it needs to fund from the precept, taking into account any other income it may receive and whether to use some of its reserves. The final budget is set in January.
The high level budget for 2024-25 is:
| Codes | Budget | Description |
| 1-12 | £29,665 |
PROPERTY SERVICES - Building & Open Space Maintenance, Running Costs - All 3 sites |
| 13-25 | £6,800 |
PROPERTY SERVICES - Play Are Maintenance & Running Costs. Street Fixtures & Non Council Open Space, Designated Funds |
| Payroll | £50,780.26 | Staff Costs |
| 33-44 | £17,355 |
Council Other - Telecoms, IT, Insurance, Grants, Subscriptions, Licences, S137, Social Activities, Stationery |
| 45-56 | £9,251 |
Council Other - Cleaning Materials, Legal & Professional Fees, Training, Non Domestic Rates, Incidental & Other Expenses |
| £113,851.26 | TOTAL |
Precept
North Kesteven District Council is the billing authority that collects the council tax from its residents. The council tax is collected on behalf of Lincolnshire County Council, North Kesteven District Council, the Police, and the Town and Parish Councils within its district.
North Kesteven then pays the Parish Council its agreed precept amount, which we receive in two halves, at the beginning of April and the end of September. The Parish Council sets its precept after carefully considering its budget (expected expenditure and income), plus any plans for projects in the forthcoming year. The final precept amount is agreed at the Full Council meeting in January, and the precept demand is then submitted to North Kesteven District Council.
Heighington Parish Council precept amounts:
2024-25 £106,851.26 *Council has agreed that the difference between the budget amount and precept request will be funded via income received (which is not guaranteed) and reserves.
2023-24 £103,315.00
2022-23 £94,291.00
2021-22 £91,261.91
2020-21 £89,021.11
2019/20 £86,010.73