This section provides an overview of the Council's finances.
Precept and Income
The main source of income for a council is from the precept, which comes from residents paying their council tax. Councils can also raise income through providing services and activities. The precept and income enable the council to deliver services. The functions that a council can provide are set in government legislation and they include things councils must do ('a duty', e.g. hold a certain number of meetings per year) and things councils can do ('a power', e.g. encourage tourism or provide recreation grounds).
Councils agree their budget and precept around January time for the forthcoming financial year. The financial year for a council runs from the 1st April – 31st March, with councils being required to approve and publish their accounts following year end.
West Lindsey District Council is the billing authority who collects the Council Tax and then pays the Council the agreed precept amount, to enable the council to deliver its functions. The council sets its precept after considering its budget and plans for the forthcoming year. Below are the amounts for recent years: