Budget Plans

Budgets are made to show how much money an organisation has & how that money might be spent. Budgets usually have different sections & an amount of money is shown next to it. The amounts chosen are usually based on previous spending especially when the expense is one that reoccurs.

For example under maintenance then an amount of money is set aside to cover grass cutting for the year. The cost of grass cutting for the previous year will be considered & a small additional amount may be added. This is because the cost might rise & the allocated amount needs to anticipate this.

This section contains the annual budget prepared for the current financial year. It shows all the anticipated costs that have been identified and the funds allocated towards these. Budget plans help to inform decisions that might need to be made as projects progress across the year.

Find out more about parish council budgets & how they are formulated:

https://www.local.gov.uk/sites/default/files/documents/11.107%20A%20Councillor%27s%20Workbook%20on%20Local%20Government%20Finance_v02.pdf