Annually Soham Town Council has a Statutory Duty to set its rate demand (precept) which it sends to the Billing Authority (ECDC) that collects all domestic rates charged to residents within the Parish.
Up to 2018-19 the budgeting process was arbitrary undertaken based on ‘keeping the precept low’ which negated the many of the aspirations, goals, amenity and infrastructure improvements that had been discussed by successive council for many years.
This changed in the last 3 financial years with the introduction of direct budgeting for defined projects and a general desire to a ‘can and will do’ attitude.
For the last 2 years and commencing in September coinciding with the 6 months review for the current financial year the Finance & Policy Team meet to discuss:
- fixed costs and overheads of running the town council including staff requirements & Cllr expenses
- projects requiring Funding in the upcoming year
- Longer term projects that require Financial considerations over a number of years
- General Funds & allocated reserve provisions
Recommendations are made to full council, usually at the December or following January meetings. Below you will find current as well as previous years calculations