Most of the income for Cranham Parish Council comes from the precept it draws from Stroud District Council. This is paid in two equal instalments and in 2016 comes to £6xxx. It is possible for the Council to supplement its income with various grants and payments from national and local government to pay for new initiatives. In 2015/16 money has been received to pay for the additional activities associated with the Government’s new Transparency Code for local Government
A precept is a payment from the Council Tax billing authority (in our case Stroud District Council) and is calculated to cover:
a) next year’s expenditure, including an allowance for contingencies;
b) outstanding expenditure incurred in previous years;
c) expenditure likely to be incurred before the precepted sum becomes available (e.g. interest on an overdraft);
d) payments to a sinking fund, capital fund or renewal and repair fund.