The majority of the Town Council’s income comes from the precept which is collected by Suffolk Coastal District Council as part of the council tax. The Council receives no funding from local business rates nor funding directly from central government.
Felixstowe Town Council voted to freeze its portion of the council tax for the forthcoming financial year 2017/18 at a cost of £67.35 for the year (based on Council Tax Band D rates).
For the financial year 2017/2018 the total precept is £549,742.
An information sheet showing just how Felixstowe Town Council uses its portion of the local council tax is available here: Where does the Council Tax go
The Town Council may also be a recipient of CIL neighbourhood funding during the financial year. In accordance with CIL Regulation 62a, the Town Council publishes a report (no later than 31 December annually) on CIL receipts received, details of any CIL expenditure and the total CIL balance held following the reported year. View the CIL Annual Report 2016-17 here.
The Council also receives some income from the services it provides such as the allotments, cemetery, Town Hall and Walton Community Hall as well as any sponsorship it receives for Felixstowe in Flower or other events or projects. For more information on Council’s services click here.
Council’s annual budget gives an estimated detail of income and expenditure for the year and can be seen here. Management of Council’s income and expenditure is delivered through its various Committees, monitored by the Finance & General Purposes Committee and Council.
Financial Forecast 2016 - 2020
A financial forecast for Felixstowe Town Council has been approved and can be found here, this covers the Business Plan period of 2016-2020. The Financial Forecast is linked to the Business Plan found here and references the corresponding actions found in the Action Plan , at Appendix 1 of the Business Plan.
Monthly Financial Reports.
Every month, Council publishes a report of its income and expenditure against budget as well as details of all expenditure over £500.
Finance Report/ Expenditure over £500
Council submits an Annual Return to its External Auditor each year. Notice has been given that the external audit of the accounts of Felixstowe Town Council for the year 2014-15 was completed on 21 September 2015.
The Council’s external auditors, BDO LLP Southampton, have expressed the view that, on the basis of the annual return, in their opinion, the information is in accordance with proper practices and no matters have come to attention giving cause for concern that relevant legislation and regulatory requirements have not been met. In addition, there were no other matters affecting their opinion that required the issue of a report or the further attention of the Council
In accordance with Section 14 of the Audit Commission Act 1998, the accounts and requisite information as defined by Section 13(4) of the Accounts and Audit (England) Regulations 2011 are available for inspection by local electors and have been published below. A copy of the previous year's Annual Return and Audit Report is also available.
In addition to the annual External Audit, Council commissions a half yearly Internal Audit. Internal Audit reports are published below and reported to the next available Finance & General Purposes Committee.