Finances

 

The Town Council generates precept at a rate of  £82.87 per D Band Household.  We have a tax base of 5118.99 D Band Houses in the parish.  (This calculation is made by averaging out different house sizes to arrive at a number of D Band Houses.)   Our total precept collected in the 2018/19 year from all Newport Pagnell residents is £424,189.  

This precept of £82.87 is around the middle of the range of precepts levied in Milton Keynes, with the highest being  £202.47 per D Band Household.   Despite this reasonable precept, Newport Pagnell Town Council offers a significant range of services, broader than those offered by many parishes.  These include Middleton Pool and Fitness Centre, 3 community centers, 5 allotment sites, various properties leased to community organisations, our Council Offices at 80 High Street, which also act as an information center for residents, and Willen Road Sports Ground which offers cricket, football and tennis.  This big range of assets is the largest held by a parish in Milton Keynes, and is valued at a replacement value of £15M.   It is necessary therefore to budget each year to ensure that enough funding is held to fully refurbish properties as they age.   Last year 80 High Street was refurbished.  As a listed building in the High Street, refurbishment had to meet the standards necessary to keep the building in good condition. In 2019 the Youth Club will be refurbished. Our leisure services do generate a significant income, which is managed through the accounts of our partners in leisure, Places for people. However, leisure also costs a lot to run, generating an income for the Town Council of £20,370 plus a gain share income of £4,900 which is ploughed right back into maintaining these assets for the long term.       

The Town Council is also currently holding discussion on further devolution of assets with  Milton Keynes Council including parks and play areas.