Financial Information

Ashurst Wood Village 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 the Village Council.

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

Mid Sussex District Council co-ordinates the demands from the Village Council, West Sussex County Council, Sussex Police and themselves and issues the Council Tax bills to be paid from 1st April each year.

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

The Finance, Administration and Human Resources Committee considers the draft budget for the next financial year at its October and November meetings. The Committee's recommendations are presented to the full Council for consideration at its December meeting. The draft budget and precept is then agreed in principle and published here. At the Council's February meeting it reconsiders and confirms the budget and precept for the coming financial year.

The published budget (below) shows the previous year's actual expenditure, the current year's budget and expenditure to date (up to January), followed by the budget for the new financial year.

Items of income and expenditure are available to view at any time at the Council's offices or information can be requested from the Clerk or Responsible Financial Officer

To ensure sound financial management, Ashurst Wood Village Council has a set of financial policies and procedures that it follows.

The accounts and annual return are prepared by the RFO, approved by the full Council, audited by the internal auditor and then sent to the external auditor.

Members of the public are notified when the Annual Return has been submitted to the external auditor, and anyone can inspect the relevant documentation at the Council's office during the time period advised. The unaudited accounts will also be placed on this page.

When the audit has been concluded by the external auditor a further Notice is posted and the audited accounts will be placed on this page, replacing the unaudited accounts.

Grants are available for community groups and organisations. The Village Council will consider grant applications four times a year: at its meetings in March, June, September and December.
The grant funding policy and application form are below.

Grants may also be available from Mid Sussex District Council and West Sussex County Council - see link to Community Grants page below.

The assets register is updated as items are purchased. A copy is held with the annual audit file and viewed and checked by the internal auditor.

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