DPC PRECEPT INCREASE 2019/20
2019/20 is the year we need to put in place the loan repayment charge we anticipate with the go-ahead of the Community Centre. Assuming we draw down the full £700,000 available to us, the annual repayment charge will be £28,000.
Recognising the pressure this places on our total budget, we have managed to partly off-set this charge by achieving a significant reduction of £9000 in our operating budget, as follows:
- major reductions to our Training and Communications budgets now that the new Accounts, Cemetery and Allotment software is embedded.
- significant reduction to our Insurance Costs through smarter purchasing
- reduced Cemetery spend now that the graveyard audit has been successfully concluded and the extensive tidy-up nearly finished.
These reductions partnered with continuation of the £20,000 Community Centre budget put in place last year, would allow us on an on-going basis, to fund the loan with no Precept increase. However, we do need to budget an additional £20,000 in what will likely be this year only, to fund the Professional Fees of the Project Manager who will oversee the Community Centre construction.
Pulling this all together , the Precept will increase from £74,959 in 2018/19 to £93,338 in 2019/20.
If you’d like to see further detail, please find links below to:
- a breakdown of the individual elements of the 2019/20 Budget
- an overall Summary comparing 2019/20 to previous years
If you have any questions, we’d be very happy to try to answer them.