The Town Council receives income from a variety of sources, such as burial ground fees and allotment rents. However, by far the largest source is the precept. The precept is a small proportion of the Council Tax that every household pays each year. The Town Council decides each year how much this should be in order to fund its day to day operations. It is the duty of the Town Clerk, as the Responsible Financial Officer for the Council, to ensure that proper records are kept and to ensure that these records are audited by a qualified accountant. A report is also submitted to an external auditor appointed by central government.
For the purposes of the Council Tax all dwellings are placed into value bands from A(lowest value) to H(highest value), with band D being used as the reference band. For 2015-16 the Bradninch Town precept was £35.03 per band D property.
The Council also reports its accounts to the Annual Parish Meeting and a copy of the report for the accounts for the 2015-2016 financial year can be found here:
Below is a copy of the formal notification of the conclusion of the external audit: