At its meeting held in January, the Parish Council provisionally approved its budget for 2015/16. Formal adoption of the budget is expected to take place at its meeting on the 3rd February 2014.
The primary source of income for most Parish Councils comes from the Precept, which is a local tax collected by the District Council on behalf of the Parish. This money is required to run the council and pay to maintain and improve the facilities, activities and services that local Parish Councils provide and is normally the operational cost difference between expected expenditure and income in any one year. A proportion of this money is prudently held in reserve for either future planned projects and/or unexpected events. If formally adopted in February, the Precept for Burton Joyce residents will be £77.38 per household for the year – a modest increase over the previous year. A more detailed summary of the budget will be made available in the next Parish magazine.