Coleorton Special Expenses Update

Following the parish council’s recent post regarding Coleorton Special Expenses, we have obtained the information below from NWLDC on behalf of the parishioners. The Finance Team however has asked us to emphasise that figures for 22/23 to 25/26 are indicative and these will be reviewed each year as part of the budget setting process. It is only the special expense precept for 21/22 that has currently been approved.
Statement from NWLDC reads:
“The precept has increased from £7.21 (20/21) to £9.22 (21/22) an increase of £2.01 (Band D equivalent)
The 21/22 budgets are:
£2,380 which covers the routine grounds maintenance at St Mary’s closed churchyard
£1,320 which covers the routine grounds maintenance at the play area site at Forrester Close
£160 for cleansing services to empty a bin once a week at Forrester Close play area.
£2,440 PPM works required in 21/22 – tree works at St.Mary’s closed churchyard
The precept calculation takes into account the forecasted balances as at 31st March 2021, the 21/22 budgets and indicative budgets up to 2025/26. These are updated annually as part of the budget process and help to calculate any increases in precept that will be required over a rolling five years period so that there is sufficient funding to meet the budget requirement and to achieve the appropriate level of balances at the end of the five years.
The forecasted position as at 31st March 2021 is showing a deficit in balances of £14.2k, this is mainly due to PPM budgets for replacement play equipment and tree works which are still to be undertaken. These will be earmarked and the works are now likely to take place during 21/22.
It’s only recently that the PPM works have been identified and budgeted for and this will lead to an increase in the precept over the coming years. The special expense precept also takes into account any changes in the Council Tax base figures and is updated annually as part of the budget process.
The special expense localisation grant is also being phased out over four years with 21/22 being the first year but that has only meant a reduction in grant of £102 from 20/21 to 21/22, so only a small decrease in funding.”
End of statement.
As before, if you require further information or clarification, please contact the Finance Team at NWLDC directly.