Financial Information
Marks Tey Parish Council raises and spends money for the benefit of the local community. Much of the income comes from the Precept which is the element of a resident's Council Tax that is paid to Marks Tey Parish Council as aprt of your rates paid to Colchester City Council.
Every year, the Parish Council draws up budgets and calculates how much money it needs for the next Financial Year. Budgets are usually finalised at the January Parish Council meeting and then the required precept amount submitted to Colchester City Council.
Colchester City Council co-ordinates the demands from the Parish Council, Essex County Council, Essex Police and themselves and issue the Council Tax bills to be paid from 1st April each year.
Since householders must pay Council Tax the Parish Council needs to be be accountable for where its proportion of the money goes and for providing sound financial management.
Current Year Accounts
Budget & Precept
Further details of the Parish Council's budgets for the year ending 31 March 2023 can be obtained from the Parish Clerk.
Financial Policies and Procedures
Asset Register 2021-22
Parish Councils do not value Assets using the notion of depreciation. The Asset Policy highlights how the Parish Council assets are valued.
End of Year Accounts
To ensure sound financial management, Marks Tey Parish Council has a set of financial policies and procedures that it follows.