Our financial year runs from 1 April to 31 March. Fritton with St Olaves Parish Council agree an annual budget in November each year and also decide how much the annual Precept* should be set at. The precept pays for the parish clerk’s salary, insurance, grants and donations to local organisations, room hire for meetings, administration costs such as photo copying and postage, and the repair of parish assets. We submit our annual accounts in the form of an Annual Return to an external auditor.
*Parish Councils are empowered to raise money for their activities through a tax (the “Precept”) on the village residents which is collected on their behalf by the District or Borough Council, as an addition to the District and County Council Tax.