The Town Council is funded mainly by the Precept which is paid by East Suffolk District Council. The management of the accounts on a daily basis is done by the Responsible Finance Officer (RFO) which, in this instance, is also the Town Clerk.
Saxmundham Town Council in November/December consider what items they should budget for. This will include staff salaries and training, the upkeep of the council buildings, local parks and amenities, grants and donations to local charities and groups and specific projects such as the Neighbourhood Plan. It also has to set aside reserves for emergencies.
This budget will determine what precept to request from the District Council and this is submitted in January.
The Precept is paid in two installments - April and September and the Council spends money in accordance with its budget. Monthly, there is a meeting of the Resources committee who approve expenditure and compare the spending against the budget.
Every year, during April/May, there is an Audit by and internal Audit and a document produced outlining how the Council and its staff are managing the finances. This is available to the public and is discussed in May at the Town Council meeting. The Town Council then submits a return to the External Auditors for approval.
All the audit information is available for viewing by the public.
On this page we have included the budget for the current year, the spending to date, and performance against budget reports.