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Local NewsFri, 6th December 2019

News  » "Town Council Budget & Precept 2018/19"

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Town Council Budget & Precept 2018/19   ()

Monday's Town Council meeting agreed its Budget for the coming financial year of 2018/19 and the related Precept.

The Budget predicts a total ependiture of £450,828 during the year with 70% coming from the local Precept and the remaining 30% from grants and income from Salisbury Gardens and the four Car Parks we manage.

This means a Precept increase of £15,09 a year for Band D households that will provide income totalling £323,354.

The increase - £42,931 over this year - is entirely due to two further services being dropped by the Isle of Wight Council and the development of Boniface Fields.

As always, we tested the proposed additions - £20,000 to continue our youth work following the Isle of Wight Council’s cutting of its Youth Offer funding, £20,000 for Boniface Fields and £7,500 to deal with the Isle of Wight Council’s service level changes for Ventnor Park from 1 January 2019 – at the Consultation Evening on 29 January and all were strongly supported.

The presentation giving background to the Town Council''s Budget, as shown to the 29 January meeting, can be seen by clicking this link.