Financial Report YE 2023 by RFO

Financial Reports Uploaded on May 4, 2023

Financial Report

Financial Year ending 31st March 2023

Prepared by J Gregory (Clerk and RFO)


Closing Balance                   £29631.55

VAT Reclaim                         £  2027.86

Expenditure                         £20718.22

Income                                  £18259.53


You will note that expenditure exceeded income, expenditure was up by 202% – this was down to pre-covid invoices being produced not least a large amount for grass-cutting (circa 6k) and some hall hire.

Unexpectedly there was a chunk of money to be spent on replenishing the play park with new equipment and this will continue piecemeal over a period of time, hopefully with some costs grant aid.   We moved the website across from a Village Website to a Parish Council version with some initial financial outlay.  Jubilee costs were unbudgeted and with the tenant leaving the Dovecote there has been some extra expenditure in the interim.

Whilst the balance appears healthy we have to bear in mind ringfenced amounts of 20k set aside for the recreation ground facility and professional fees.

The Council are heavily reliant on its Distgen income without which much of the work would not be possible, given this is not guaranteed indefinitely the Council should consider its future income streams.