Budget and Precept
Each year around November or December the Parish Council prepares a budget and calculates the funding needed to provide services for the following year. This enables us to decide on the precept. This is the sum Sevenoaks District Council collects as a proportion of the total council tax paid by households in Fawkham. This is clearly identified on the council tax statement which each household receives.
For the financial year 2022/23 the precept is £23,300.
Fawkham has the smallest tax base in Sevenoaks District, which is calculated by converting all Fawkham Parish property banding and discount figures to Band D equivalents. In 2019/20 Fawkham had the 5th smallest Band D Council Tax of the 31 in the Sevenoaks District.
The Council is governed by our Financial Regulations. These set out how we conduct financial transactions, including budgetary control, banking arrangements, making payments and purchases, and awarding contracts. They are reviewed each year at the Annual Council Meeting in May. Our clerk, as Responsible Financial Officer, is responsible for the proper administration of the Council’s financial affairs.
All councils have to complete and publish an Annual Return which includes section on accounting statements: a summary of income and expenditure, the precept, staff costs, assets and liabilities and reserves taken from the council accounts. The process also includes an Internal Audit which is an independent, objective assurance designed to improve the operations of the council in terms of risk management, control and governance processes.
The Annual Return is completed after the March year end and must be approved by the Council by 29th June, and published by 30th September.
All documentation in relation to AGAR for both 2020/21 and 2021/22 can be found here.