Local councils have a statutory power to precept (tax) the local government electors in their area to finance the activities that flow from the exercise of their discretionary powers and subsequent legal obligations. The precept is a component of the council tax levied on the local government electors in the area. Each year Selling Parish Council estimates how much money they will need to meet their obligations and perform its functions. Details of the estimate can be seen below, with a comparison for the last financial year. The council financial year runs from 1st April to 31st March.