Council Finance

LAUNCESTON TOWN COUNCIL – BUDGET AND PRECEPT 2023/2024

The table below analyses gross and net expenditure for 2023/2024 on the major services for which Launceston Town Council is responsible, together with comparative budget figures for 2022/2023.

2022/2023			SERVICE	2023/2024
Gross Expenditure £	Income £	Net Expenditure £		Gross Expenditure £	Income £	Net Expenditure £
245,194	25,484	219,709	Town Functions (incl Grants)	294,166	15,600	278,566
104,420	31,945	72,474	Parks, open spaces, public seats/lights, allotments	104,604	25,115	79,490
63,897	4,325	59,572	Cemetery	51,661	4,325	47,336
245,146	61,060	184,085	Town Hall and other Council properties	234,819	59,080	175,739
92,105	550	91,555	Library	109,773	1,000	108,773
50,941	101,000	(49,059)	Car Park	58,112	108,000	(49,888)
33,905	0	33,905	Public toilets (4)	33,048	0	33,048
96,445	0	96,445	Lawrence House Museum	39,017	0	39,017
51,318	0	51,318	Capital Projects	51,318	0	51,318
112,184	15,150	97,034	Visitor Information Centre	127,753	11,900	115,855
1,095, 555	239,514	856,041	TOTAL	1,104,271	225,020	879,251

For the forthcoming financial year, the Council have estimated that to operate the services we provide, along with adequate staffing requirements, will require an estimated expenditure of £1,104,271. To achieve this, we will generate £225,020 from our own assets (hall hire, car parks etc). The remainder will be raised by us charging a precept (Council tax). This year that amounts to a charge of £879,251.

The cost of Council Tax is always shown as an average, which by default is a Band D property. To calculate this Band D cost, we divide the amount of precept we need, in this case £879,251, by the tax base we are provided by Cornwall Council. That figure for 2023/24 is 3,207.87.  Therefore a Band D property in Launceston will be charged £274.09. This is an increase of 0.02%.

Within the annual budget are a number of items that cannot be overcome, namely rates, utilities, insurances and staffing costs. In addition, the grant received from Cornwall Council has now been permanently removed, meaning a loss to the Town Council of £13,384.

The range of assets and services which Launceston Town Council is responsible for is considerable.  As well as the Town Hall and Guildhall, we also own the Ambulance Hall venue and operate a cemetery, maintain a closed cemetery, run a multi-storey car park, maintain four sets of public toilets, the historic Southgate Arch, Lawrence House Museum, Newport Roundhouse, Priory Ruins and a Rest Garden, a Visitor Information Centre, a Library, Windmill Wood, three play areas, three allotment sites, a coach park, and band room. The Council also manages the Town Square and Parade Ground.

In addition, the Council actively supports many of the events and festivals which take place in the town, provides the Christmas Lights for the town and gives grants to local organisations.  The Town Council is responsible for public seats, some public lights and bus shelters, extensive grass cutting and horticultural work across the town.

Within the Town Hall we provide a wide and varied range of arts and cultural events, aiming to provide something for all age groups. Our venues are used by community groups, schools, charitable organisations and businesses and ensure that Launceston is identified as a town with provision for many. All of the Town Council services are provided at a total cost of 75 pence per day to a Council Band D household.