Thatcham Town Council approves budget and precept increase

Thatcham: The Town Council has approved its budget for the next year. They also decided to raise taxes.

The Band D tax will increase by 13.52%. It will go from £110.98 to £125.98 per year. This means an extra 29p a week for residents.

The council expects to overspend by £6,801 next year. They will cover this from their general fund balance.

Mike Cole, the finance committee chairman, shared his thoughts. He said they faced many challenges this year. Still, they managed to keep finances strong and improve services.

He acknowledged that the budget comes with costs. Some expenses can only be partially covered by reserves.

They are committed to keeping play areas safe for children. They will replace old equipment as needed.

Like other councils, they face unavoidable pressures. They need to find funds for increased national insurance contributions starting in April 2025.

Most contractors pay minimum wage, which will raise service costs. This includes their main grounds maintenance contract.

The council has set aside £10,000 for local charities to apply for grants. They are also increasing spending on plants and trees by 20% to £6,000.

All planned events will continue as scheduled. Jeff Brooks, another council member, praised the proposed budget.

He noted the council’s ability to manage pressures while investing in playgrounds and events. He commended the budget for its focus on improvement and protection.