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Precept & Budget

a drawing of a stack of coins

Precept & Budget

The Council’s budget  is called the Precept, and is the amount the Town Council asks from Westmorland & Furness Council as a proportion of the Council Tax paid by householders of Penrith. The Council utilises the precept, to provide services and to deliver the Council Plan.

This link will open our current Council Plan as a PDF booklet.

The Town Council’s portion of Council Tax bill depends on which band a property is in. Properties are put into one of eight bands, A being the lowest, and H the highest, with Band D being the average.

2024-2025 Budget

Please use this underlined link to view the PDF report considered by Full Council Proposed Budget 2024-25 noting the document contains tables

Please use the underlined links to view the PDF report appendices to the Budget Report:

Appendix A – Proposed Budget 2024/25

Appendix B – Medium Term Financial Plan 2024/25 to 2028/29

Appendix C – Medium Term Financial Plan Service Development Proposals 

The Town Council has approved a budget for the year commencing on 1 April 2024 which requires a precept (or levy) of £487,735 to pay for Council services.  Westmorland & Furness Council is notified of the amount of the precept and collects the money on behalf of the Town Council from council taxpayers in Penrith.

The precept of £487,735 represents an annual Council Tax of £83.92 for a Band D property, which is 1% increase from the previous year 2023/24.

The precept is a increase of £19,440 from the precept levied for 2023/2024.  The 2024/25 budget was adjusted to remove any one-off items and to include costs of contractually committed changes to expenditure or income, with inflationary increases only applied where necessary.

New service development proposals are also included within the precept amount and will notably include the support for the delivery of the refreshed Climate Strategy, work associated for a new Interpretation and Wayfinding scheme and a marketing programme for Penrith .