Most of the income for Cranham Parish Council comes from the precept it draws from Stroud District Council. This is paid in two equal instalments. It is possible for the Council to supplement its income with various grants and payments from national and local government to pay for new initiatives.
A precept is a payment from the Council Tax billing authority (in our case Stroud District Council) and is calculated to cover:
a) next year’s expenditure, including an allowance for contingencies;
b) outstanding expenditure incurred in previous years;
c) expenditure likely to be incurred before the precepted sum becomes available (e.g. interest on an overdraft);
d) payments to a sinking fund, capital fund or renewal and repair fund.