That is fiscally illiterate!
Why isn’t the IA / EA pulling it?
Why aren’t electorate objecting to EA?
Why are Cllrs allowing it?
My PC has been fiscally illiterate for years, probably decades.
I joined PC in Jan 22 and assumed chair in Jun 22.
Proposed budget was presented by RFO in Nov 22, after picking the assumptions apart and reconstructing them with some tangible logic it was apparent that the estimated precept requirement was vastly over inflated.
But that wasn’t the best part, the assumption had, for as long as memories allowed, been that the opening balance at start of new FY was always £zero and that had been the case for as long as could be remembered.
At the end Nov there was ivo £60k revenue balance at bank and the very real prospect of there being £40-50k at end FY.
The entire precept / budget calc FAILED to take account of carry forward balance at end of the previous FY which will be somewhere between £40-50k!
Consequently, year on year, the overall bank balance was growing and providing ample ££s so that there was no requirement for any budget / project planning since there was always plenty of money for any cock-eyed, ½ witted scheme without any need for forward planning.
The cash revenue bank balance at close of this FY is likely to exceed the level of precept required for 23/24FY which “could” have resulted in a 100% reduction / rebate, but I took the view that a more gradual, staged reduction over 1-3 years would be a reasonable approach to regain a sense of equilibrium.
30% reduction 23/24, 20% reduction 24/25, 10% reduction 25/26 - well that’s the plan at least, subject to approval by what ever passes for a PC as those years roll out.