Monday, April 15, 2024

The Council has to comply with the law in administering its finances. The ‘rules’ which are officially called Financial Regulations are available in our policies section here.

In this section you will find all the information relating to Radstock Town Council's Finances. Please choose a year from the menu above.

Accounts, Audit and Year End

The Town Council is regularly audited by both a Council appointed auditor and an external auditor, appointed by the Audit Commission. The annual return, audit information and statement of accounts can be found in this section under each year.

Budget and Precept:

Each year the Town Council creates a budget. This is a calculated from; the money it needs to provide its services, then deducting the income it expects to receive from fees and charges such as rents and grants.  This leaves the required amount to spend on services and any capital projects which are planned for the year ahead.

The precept is the amount it levies on the Unitary Council (Bath & North East Somerset Council).  It is collected by them as a proportion of the total Council Tax paid by Radstock households. 

CIL and S106 Funding

The Community Infrastructure Levy (CIL) is a charge that local authorities can set on new development in order to raise funds to help fund the infrastructure, facilities and services - such as schools or transport improvements - which are needed to support new homes and businesses in the areas. Section 106 (S106) is also funding that can be used to support infrastructure. The details of CIL and S106 income and expenditure per year can be found in this section.

Community Grant Awards

Every year, Radstock Town Council opens its community grant pot to support our local groups. The detail of our annual grant recipients can be found in this section. You can also find details of our grants policy here.