Safeguarding our finances

The town council has a responsibility to ensure that its funds, which are received from Council Tax payers and service users, are invested wisely.  The town council weighs up the risks and rewards of investment options and the town council adopted its Investment Strategy at the Council Meeting held on 16 December 2020.  The strategy was updated at the meeting of the Finance, Governance and Asset Management Committee on 18 January 2022.

Budget setting

From September each year work is carried out to identify the issues that are likely to face the town council in the coming financial year and a budget setting process takes place. Estimates are prepared by the spending committees and then considered by the Finance, Governance and Asset Management Committee, which takes into account spending priorities and the financing of the budget.  This work is closely linked to the Forward Plan.

Part of the budget setting process is to consider the appropriate level of Council Tax to balance the need to provide sufficient resources in order to deliver services against the desire to keep the level of Council Tax as reasonable as possible.

At the end of the budget setting process the town council sets a precept, which is the amount of money that is required from the Council Tax in order to provide the planned services. Capital expenditure for new or improved facilities is funded via the precept, earmarked reserves and grants.

A copy of recent budgets can be found here:

2019-20 

2020-21

2021-22

Fees and charges

Abingdon-on-Thames Town Council has responsibility for a range of services and we aim to operate these services in an economic and efficient manner for the benefit of residents.  Charges levied are set at the most reasonable level to ensure that they are effective and help to raise an increasing amount of revenue from sources other than Council Tax.

The town council is required by law to review the fees and charges it sets each year. This review is part of the budget setting work and is completed in January.

The current fees and charges for our services can be found here.

Audit and review

Community Infrastructure Levy

Fees and charges