Town Council operations and services are primarily funded through the Council Tax paid by residents of Taunton. Additional income is generated by the Town Council through the hire of venues and facilities, allotment rents.
Each year a budget setting process is undertaken over a period of several months, during which time the anticipated income and expenditure for the following year is calculated and reviewed by standing committees. The final budget is approved by Council each January and the figure required to be collected as part of the Council Tax – known as the Precept – is set by the Council. For 2023/24 the budget was set for Taunton Town Council as part Reorganisation Order made by Somerset County Council.
Information regarding Council Tax and the fund distribution to Somerset Council, the Police Authority and the Fire and Rescue Authority can be found on your individual Council Tax bill or by visiting the Council Tax area of Somerset Council’s website.
Annual Investment Strategy
The policy of the Council is to ensure that its investments contribute to the objectives of the local authority and its functions, through effective treasury management activities and the prudent management of its finances. The policy will adhere to the principle to prioritise Security, Liquidity and Yield in that order of importance, and to ensure that any risks are effectively mitigated
Financial Regulations govern the conduct of financial management by the Council and may only be amended or varied by resolution of Full Council. Financial Regulations are one of the council’s governing policy documents providing procedural guidance for Members and officers. Financial Regulations must be observed in conjunction with the Council’s Standing Orders.
Annual Governance and Accountability Return (AGAR) 21-22
Every financial year ending 31 March the annual audit of the Town Council’s accounts are reviewed by both the internal and external auditor. When Taunton Town Council was formed it absorbed two parishes Comeytrowe Parish Council and Staplegrove Parish Council. Their previous years audit information can be viewed below.
Comeytrowe Annual Internal Audit Report 21 22
Comeytrowe Sections 1, 2 AGAR 21-22
Comeytrowe Section 3 AGAR 21-22
Staplegrove AGAR Internal Audit Report 21-22
Staplegrove Certificate of Exemption 21-22
Staplegrove Sections 1, 2 AGAR 21-22