At January’s Town Council meeting the Council considered the budget for 2024/25, which in turn enabled the Council to calculate the Precept for 2024/25.  Unlike other levels of government, the Council does not receive direct funding from the central government.

Before setting the Precept, the Council needed to agree on the budget, which includes elements such as ongoing services, additional spending plans, contingencies, and anticipated income from various sources.  It has been necessary for the Council to take a zero-based budgeting approach in order to establish a strong baseline i.e. it has needed to start the budgeting process from scratch, prioritising essential costs.

After careful consideration of the town’s requirements the Council agreed a Precept of  £152,172 for 2024/25.

This is based on a forecasted budget of £386,181 offset by an anticipated income of £79,909 and £154,100 of earmarked funds.  £100,000 of these earmarked funds is a provision against the VAT liability the Council needs to address within the budget; we have had to estimate the extent of the VAT liability and have made a provision accordingly. We are currently working with HMRC to finalise the figure.

With an increase in the Precept from last year’s (£77,150) the Council would like to reassure the town that a detailed budget process has been followed, with this increase being necessary to enable the Council to meet its regular and anticipated commitments throughout the forthcoming year.

The Council is excited for the challenges and opportunities that lie ahead and does not take lightly the need to increase the Precept. However, after much consideration it believes this will allow it to deliver the services that the town expects.

The 2024/25 Council Tax bill for a Band D property will show £77.40 for the Salcombe element of the total bill. This is an increase of £37.52 on the 2023/24 Band D figure.

 

Click here for the 2024/25 Salcombe Town Council Precept

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