Following on from last year, when it was very very late setting a budget, Midsomer Norton Town Council has already moved ahead with setting next year's budget, which in turn will be reflected in the council tax amount residents will have to pay.

The whole of the Town Council accounts are undergoing a rigorous make over, to make them easier to see the state of the town finances.

It it is recommended that council budgets are drafted in November, presented in December and agreed in January.

That certainly wasn't the case last year, in Midsomer Norton and, according to a report in The Guardian newspaper, they were not alone.

99% – of English councils did not have their 2022-23 financial accounts signed off by the deadline this year, which experts say is increasing the risk of financial irregularities and risky behaviours going undetected.. Moreover according to the national newspaper, more than 900 sets of accounts for councils and other public bodies going back to 2017 remain unaudited.

Again that is not the case for Midsomer Norton, as it enters a far more rigorous council era, auditors HAVE signed off the accounts within Midsomer Norton.

As part of the financial good housekeeping, there has also been an overdue revision of who can sign money from Midsomer Norton bank accounts - with old councillors and former clerks once still on the books - now removed.

Money money money

At the last Town Council meeting councillors discussed several financial issues, including a request from the Community Trust for £6,500 as a contribution towards the Town's Christmas Events.

A Community Trust report to the council was offered a breakdown of some of the costs involved:

"The breakdown of this is: Insurance contribution - £500 Licences - £100 Venue Hire (Hollies Garden & Chamber) - £260 Staffing (First Aid & Security) - £650 Equipment Hire (Snow machines, PA etc) - £1300 Musicians for Hollies Garden - £500 Street Entertainers - £500 Publicity - £200 Art Activities - £100 Safety Barriers - £330 Refreshments (Hot Chocolate etc) - £200 Potential additional attractions - £1860 Obviously there is the potential for costs to rise, or us to readjust the budget, if B&NES Event team ask for further requirements, although we would hope to cover this through sponsorship. Costs may also fall based on the final attraction costs. Note There was £16,000 in the budget for costs towards Christmas. £3,500 has been spent on the lights and £3,500 has been spent on the Tree so leaving about £9,000. "

If you want to know about what councils are expected to do in terms of the budget, best practice and where the council tax funding comes from, you can read MORE HERE

https://www.scribeaccounts.com/blog/forecasting-budgeting-setting-the-precept-a-complete-guide-for-town-parish-councils