Budget 2018 / 2019
At the Full Council meeting on Monday, 12 February 2018, Newport Parish Council unanimously agreed a 24.8 increase in its annual precept for 2018/19.
This will mean that the cost to a Band D household has increased from 37.9p per week to approx. 47p per week.
To see full details of the budget, please return here soon.
Budget 2017 / 2018
At the Full Council meeting Monday, 9 January 2017, Newport Parish Council unanimously agreed a proposal from Cllr Geoff Brodie, finance lead, for a NIL increase in its annual precept for 2017/18.
This will mean that Newport Parish will continue to have one of the lowest precepts of all the Island’s town and parish councils – currently 37.9p per week per Band D household.
To see full details of the budget, please Click Here
Budget 2016 / 2017
The precept for 2016/17 was resolved at the February 2016 meeting as £296,298. This is a 70% increase on 2015/16 but only an 8% increase on 2014/15. The increase had been predicted when the decrease of 36% was made last year. In real terms this represents a 38.4 pence per week increase on a Band D household (16.6 pence per week on last year and 2p per week on the previous year).
The increase will enable the Parish Council to continue to manage and maintain the services already taken on from the IW Council, as well as taking on four toilet blocks from April 2016.
To see the full budget details please Click Here
Newport Parish Council sets its own budget. This is done annually, in December, for the following financial year, i.e. in December 2018 the budget will be set for financial year 2019/20. This is done by estimating expenditure including major projects, upgrading existing facilities, ongoing maintenance etc. This is then compared with likely income.
Before setting the budget councillors determine the precept for the following year, taking into account outside factors such as the rate of inflation, cost of living and the economic climate. Once this has been done priorities are agreed and the budget set.
Expenditure is reviewed monthly by our lead finance member and a budget tracker is presented at each full council meeting.
With effect from 1 April 2017 External Auditors will be appointed for a five-year period by Public Sector Audit Appointments Limited (PSAA), a public company formed in consultation with NALC and SLCC.
All Parish Electors have the right to inspect the Annual Return and all items relating to Newport Parish Council’s accounts. To view these details, please Click Here