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News  »  Keighley Town Council Budget 2019/2020



   Keighley Town Council Budget 2019/2020    24 January, 2019

Keighley Town Council Budget 2019/2020

At the Town Council meeting held on Thursday 24th January 2019 Members were asked to consider the budget and set the precept for the 2019/2020 Financial Year.

Members are asked to note that the Internal Auditors have made comment in the 2017/2018 audits above the levels of balances in both earmarked reserves and general reserves. The budget headings have been amended and added to to reflect the services that Keighley Town Council offer, a further comment from the auditors previously reflected that this was not the case.

Members were asked to read the attached report and explanations with regard to how the budget is made up and the various matters in relation to the banding and setting of the Precept. There are also explanations as to why there are new headings and extra amount put into some codes and cost centre. 

The Budget Working Party made up of the Mayor, Deputy Mayor and the Chairman and Vice-Chairman of the finance and audit Committee had met and considered a draft budget put together by the Town Clerk. This draft budget was reflective of resolutions and decisions of committees and with input from the committee Chairman. A revised budget, following this meeting, was presented to the Finance and Audit Committee where robust discussion took place before a recommendation as outline below was made to Full Council.

The precept request for a 0% increase in 2018/2019 was £500,570. To enable a 0% increase in 2019/2020 £506,137 was the request to be made. The budget has been agreed at total income of £645,401 This includes the £500,570) and expenditure of £826,613 leaving a balance of £181,212 to be sourced from earmarekd and general reserves.  

Members were asked to note the following recommendation from the Finance and Audit Committee meeting held on Monday 14th January 2019:

RECOMMENDED: that the Finance and Audit Committee have considered and discussed the budget paperwork and agreed that the precept is increased by 0% and agree to making up the shortfall in the budget of £181,212 to ensure a 0% increase as follows, taking into account the comments from the Internal Auditors follows:   

 

Earmarked Reserves

324 Civic Centre                                   23,000          (Towards IT and tables in the Civic Centre)  

327 Building Maintenance CC            80,000         (Towards repairs of the Civic  Centre including the roof)

328 Grants/Sponsorship                      32,500          (For grants/sponsorship)

329 Mayors Sec Office                            3500          (Towards Town Mayors Security costs)

330 Training                                            2000          (New Councillor Training) 

331 Promotions                               9500           (Towards the promotion of events and the Town Council)

333 Events                                      19,000                (Towards Town Events 401)                                      

 

                                       Sub-total     169,500

 

General Reserves                                11,712

Total:                                                  181,212                 

 

Councillor Barry Thorne, Chairman of the Finance and Audit Committee said:

"Keighley Town Council has spent its Finance and Audit meetings recently discussing the future monetary requirements of the Town Council. A newly laid out budget style has enabled a fuller discussion and the addition of new budget headings within their service areas is going to ensure that the Council is able work more transparently and ensure that comparatives are available. These new headings include each allotment site named, staff salaries and events. Budgets include funds to repair the civic centre, introduce new IT and phone systems, new town events and Councillor Ward Improvement Funds.

The Council has agreed that there will be a 0% increase for the fourth year running and is able to use earmarked reserves and general reserves of £181,212 to ensure this is the case. This means that the Council is requesting precept from Bradford of £506,137.20 which means no additional costs to the ratepayer.

I am pleased that the Town Council is able to keep it’s precept at 0% again and not increase payment by local residents. We feel we offer good value for money for the ratepayers of Keighley and offer an increased range of services. A considerable amount of work has gone into the finances and budget by the Locum Town Clerk and Responsible Financial Officer and the updated budget layout has assisted with the setting of the budget and ease of understanding by Councillors.”

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