Council Budget

Parish councils are required to set an annual budget to ensure they can effectively deliver local services and meet their financial responsibilities to the community. The process typically begins in the autumn, when a draft budget is prepared based on anticipated income and expenditure for the coming financial year. This is presented to the full council, usually in December, allowing members to review, discuss priorities, and make any necessary amendments. The budget takes into account ongoing operational costs, planned projects, and appropriate reserves to safeguard against unexpected expenditure.

The final budget is formally adopted in January alongside the setting of the precept—the amount requested from the local billing authority and collected through Council Tax. Once approved, it provides a framework for financial management throughout the year, with regular monitoring to ensure spending remains on track and any significant variances are reported. This oversight supports transparency, accountability, and sound financial planning. The budget for the 2025–26 financial year is set out below.

Each January, following approval of the budget, the Council requests its annual precept from Hinckley and Bosworth Borough Council, which is collected alongside Council Tax payments.

In addition to the precept, the Council generates income from a range of sources including grants, allotment and farmland rents, and payments for permissive vehicle access behind Main Street. Grants—often allocated for specific projects—can provide additional funding. Further income is received through VAT reclaims, bank interest, and returns on investments.