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Acceptable level of funds in bank balance

 
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Joined: 20 Oct 2005
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PostPosted: Thu Oct 20, 2005 1:18 pm    Post subject: Acceptable level of funds in bank balance Reply with quote

Hi I recently stumbled accross this forum while searching for information about Parish websites and Quality Status.

I am not a parish cllr, however I'm very active in my local community.

Our ward ranks very badly in the national index for poverty and our villlage also ranks badly in the national index for education and skills.

Our village has a population of approx 4,500. Our parish council receives a precept of 60k per year and the accounts indicate that the council already had 100K in the bank before the precept was received. This being 6K more than was in their bank account in 2003. ie. the balance is growing at the rate of 6K per year.

The parish recently voted to increase the precept for next year.

Do you think this is acceptable?
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NCT
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PostPosted: Fri Oct 28, 2005 6:04 pm    Post subject: Reply with quote

No it seems alarge amount to have in reserves, unless they have allocated a sum for some special item or identified another use then it seems that this is over the mark. I am surprised the auditors have not asked questions about the level of reserves

NCT
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symonds
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PostPosted: Thu Nov 03, 2005 11:22 am    Post subject: Reply with quote

I would second the statement by NCT.

It seems an enviable position for the Parish Council to be in, and I would be interested to know whether a project has been set aside for the use of these funds.

Also, have any significant savings been made with regard to the precept? This could also account for some increase in funds.
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