Overview of a Council's Finances
Each year a parish council applies for a precept from its Borough Council. For Selling Parish Council this is Swale Borough Council. The parish council meets in December or January to discuss its needs for the next financial year (April – March) and compare its expenditure over the current year with the amount previously predicted. Once agreed the precept form is returned and notification of whether it has been granted or not is received a few weeks later. This precept is paid in two instalments in April and September. The local parish is charged for this precept in their council tax.
Each month the parish clerk balances the accounts against bank statements and presents this to the council. This summary is always available to the public in the supporting documents of the meeting where they are discussed and approved by the council. Below you can find a sample of the monthly accounts and a document explaining how the summary, list of payments and details of income are formulated.