Finance & Audits
Each year Old Basing and Lychpit Parish Council calculates how much money it requires to provide its services or achieve any planned projects. This sum, called the Precept, is collected by Basingstoke & Deane Borough Council on behalf of the Parish Council as part of a household's council tax.
Old Basing & Lychpit Parish Council does not receive any money from central government or Hampshire County Council, nor does it receive any financial support from local business rates which are collected by the borough council.
Details of the amounts charged for your band are shown on your Council tax bill.
2026/27
2025/26
2024/25
Why might the parish precept amount charged on a council tax bill have increased/lowered even though there has been no actual change in the parish precept? Even if a Parish Council requests the same financial precept for a future financial year, due to changes in the number of Band D equivalent properties in the Parish, the individual precept against each property may change. This can result in the individual precept rising or falling by a small percentage even when the parish precept as a whole has not changed.
Earmarked reserves are funds set aside for specific projects or anticipated future expenses (e.g., replacing playground equipment, traffic calming measures, or election costs). Unlike general reserves, earmarked reserves have no upper limit and are not intended for general, unpredictable expenses. However, councils should periodically review earmarked reserves to ensure they remain relevant and sufficient for their designated purpose.
To build up earmarked reserves for projects like playground upgrades or fencing replacements, councils can allocate a portion of their budget each year. For example, if a playground upgrade is anticipated to cost £10,000 in five years, the council could earmark £2,000 each year. This gradual accumulation helps avoid large fluctuations in the budget and spreads the cost over multiple fiscal years.
As a local resident, you have legal rights to inspect, ask questions about and challenge items in your Council's accounts. For more information, the National Audit Office has published a guide, view the guide here (291KB, PDF).
2024/25
- Annual Internal Audit Report 2024/25 (2MB, PDF)
- Annual Governance Statement 2024/25 (2MB, PDF)
- Accounting Statements 2024/25 (2MB, PDF)
- Notice of the Exercise of Public Rights 2024/25 (144KB, PDF)
- External Auditor's Report and Certificate (735KB, PDF)
- Conclusion of Audit Notice 2024/25 (80KB, PDF)
2023/24
- Annual Internal Audit Report 2023/24 (2MB, PDF)
- Annual Governance Statement 2023/24
- Accounting Statements 2023/24 (1022KB, PDF)
- Notice of the Exercise of Public Rights 2023/24 (1MB, PDF)
- External Auditor's Report and Certificate (405KB, PDF)
- Conclusion of Audit Notice 2023/24
2022/23
- Annual Internal Audit Report 2022/23 (2MB, PDF)
- Annual Governance Statement 2022/23 (2MB, PDF)
- Accounting Statements 2022/23 (2MB, PDF)
- Notice of the Exercise of Public Rights 2022/23 (140KB, PDF)
- External Auditor's Report and Certificate (636KB, PDF)
- Conclusion of Audit Notice 2022/23 (61KB, PDF)
2021/22
- Annual Internal Audit Report 2021/22 (1MB, PDF)
- Annual Governance Statement 2021/22 (783KB, PDF)
- Accounting Statements 2021/22 (807KB, PDF)
- Notice of the Exercise of Public Rights 2021/22 (2MB, PDF)
- External Auditor's Report and Certificate (115KB, PDF)
- Conclusion of Audit Notice 2021/22 (776KB, PDF)
2020/21
- Annual Internal Audit Report 2020/21 (879KB, PDF)
- Annual Governance Statement 2020/21 (669KB, PDF)
- Accounting Statements 2020/21 (689KB, PDF)
- Notice of the Exercise of Public Rights 2020/21 (107KB, PDF)
- Final External Auditor's Report and Certificate (146KB, PDF)
- Conclusion of Audit Notice 2020/21 (753KB, PDF)
All Items of Expenditure Above £100
Payments & Receipts Reports (previously called the 'Invoice Log') can be found with the papers for Full Parish Council meetings. Here is a list of the Reports for 2025-26:
As a local resident, you have legal rights to inspect, ask questions about and challenge items in your Council's accounts. For more information, the National Audit Office has published a guide, view the guide here (291KB, PDF).
2024/25
2023/24
2022/23
2021/22
2020/21
2019/20
Financial Risk Assessment (2025) (PDF, 221KB)
Financial Regulations (2025) (PDF, 213KB)
The rules set by Government are designed to ensure that the council takes no unacceptable risks with public money.
The council must operate a system of internal controls and as part of that system an independent and competent person must be appointed to carry out checks on it. After reporting to the council the auditor signs a report on the annual return (required by law) to confirm that the control system is in place and working. This return together with other relevant documents is reviewed by an external auditor, appointed by the Audit Commission, who reports to the council and its electors.