Parish Council Clerk’s Finance Report 12th May 2016
Summary of the Council’s financial performance for the year ended 31 March 2013.The Clerk presented the following summary: The Parish Council’s financial reserves for FY 15/16 at £19,882 were £8010 lower than last year which was mainly due to the expenditure on the Play Area Project. The total expenditure was £37,082 against a budget of £39,537. Income was £29,072 against a budget £23,392 with most of the surplus being a £5K grant from the TAB in support of the Play Are Project plus donations to the Xmas Brunch event. Furthermore, reserves now stand at £19,882 against £27,892 for FY 15/16 of which £4K is earmarked for spending on a Burial Ground Lighting Project in FY 16/17. It is The Parish Council's intention to consider formally setting reserves level at 50-100% of the Precept e.g. £10,000-£20,000 for FY 16/17 reviewed annually at the Annual Meeting of the Parish Council taking into account any future projects. There were no questions from those present.