How is Prescot Town Council funded ?
Prescot Town Council is completely funded through the Annual Precept and the income received from the business activities carried out at the Town Hall.
What is the Precept?
Each year around January / February the Town Council agree an annual balanced budget for the forth coming financial year. In order to balance the budget income is matched against expected expenditure requirements for the year. The Precept is the amount of money required to meet the Town Councils expenditure requirements after taking into account any other expected income from the Town Hall or any other income streams the difference is then divided by the number of properties in the Town and a figure per household is established.
The total Precept for the 2021/22 financial year is £307,234. This year the Town Council have managed to FREEZE the individual Precept levied on each property, so the amount a band A property (who pay six ninths of the band d total) will pay has remained at £59.10 a year, the majority of Prescot’s housing stock is valued below band d. The precept can also be expressed as roughly 58 pence per week per elector or roughly 46 pence per resident. The Precept FREEZE has been achieved by using the underspend on last year’s events budget so that residents were not being asked to pay for services that were not actually provided.