Financial Information

Marks Tey Parish Council raises and spends money for the benefit of the local community. Much of the income comes from the Precept which is the element of a resident's Council Tax that is paid to Marks Tey Parish Council as part of your rates paid to Colchester City Council.

Every year, the Parish Council draws up budgets and calculates how much money it needs for the next Financial Year. Budgets are usually finalised at the January Parish Council meeting and then the required precept amount submitted to Colchester City Council.

Colchester City Council co-ordinates the demands from the Parish Council, Essex County Council, Essex Police and themselves and issue the Council Tax bills to be paid from 1st April each year.

Since householders must pay Council Tax the Parish Council needs to be be accountable for where its proportion of the money goes and for providing sound financial management.

Further details of the Parish Council's budgets can be obtained from the Parish Clerk.

Parish Councils do not value Assets using the notion of depreciation.