The Parish Council is committed to financial transparency and responsible spending. This section provides an overview of how the Parish Council is funded and how those funds are managed and reported.
Sources of funding
- Precept
- This is the largest source of income for parish councils. The council sets a budget for the year, in November/December, determines the amount of money required and then requests this sum from the principal local authority, ie Chichester District Council. The district council then collects this precept as part of the local council tax for the parish and pays it to the Parish Council in two separate equal amounts in April and September.
- Community Infrastructure Levy (CIL)
- CIL is a charge which can be levied by local authorities on new development in their area. The South Downs National Park Authority (SDNPA) levies the charge in West Sussex because it is the local planning authority. The funds collected are used for infrastructure projects like transport, flood defences, schools, and parks, aiming to mitigate the impact of new development on the local community and environment within the National Park.
- New Home Bonus
- Parish councils do not directly receive New Homes Bonus (NHB) funding; rather, the funding originates from the UK government, which pays the grant to principal local councils (districts or boroughs) based on new homes in their area. These principal councils then often distribute a portion of the NHB funds to parish councils to reward communities for housing growth and provide local infrastructure funding.
- Rent
- Collected from the Tenants of Stedham Allotments
- Grants
- The Parish Council has applied for and obtained funds via both the CIL and New Home Bonus schemes. Other grants have supported the development of the Neighbourhood Plan, the car parking area next to Stedham Village Green and the installation of the defibrillator in Stedham