Budgeting & Precept

Precept is the tax raised for the business running and upkeep of the facilities provided by the Parish Council. Parish precept stays in the community which directly benefits from what it pays, unlike any other tax.

Parish Councils are not capped and can increase a precept by as much as required. Many often increase it by 30% (and even up to 70%) to pay for specific projects and reserves replenishment.  The proposed budget for 2025/26 of £20,726 was an increase of £1,959 (10.5%) on the 2024/25 financial year, but which was also down from the 15% rise the previous year.
The majority of dwellings in the parish are Band C, which would equate to an 8/9^th of the charge on a Band D house.

The volunteer economy in the parish cannot continue to be relied on as much as it was in the past – we are seeing fewer volunteers able to undertake physical tasks in the Parish such as clearing of footpaths, litter picking, planting and other maintenance work and although many repair and maintenance tasks were undertaken by parish councillors and other volunteers, their time and effort cannot be guaranteed and it is only fair to make recompense for fuel for machinery and for materials used.

Councillors agreed to increase the precept to £21,000 from £18,500 to ensure forecast increases were covered and less reliance on reserves (savings) which have been depleted in recent years to cover essential costs.  This increase equates to £6.39 extra for each Band D household for the year, at £53.70 and is the same percentage increase as the previous year – 13%.  This is Per Household Per Year.

Our local Borough Councillor, Phil North, explained at the January meeting when the budget was agreed and the precept was set, that with the local government reorganisation supported by Hampshire County Council, many of the TVBC services currently provided would likely be at risk.  He anticipated financial difficulties in the future with reduced or even no grant funding for parish councils.