ILAM PARISH COUNCIL

Explanation of Variances

Please provide full explanations, including numerical values, for the following:

· variances of more than 15% between totals for individual boxes (except variances of less than £200);

· a breakdown of approved reserves if the total reserves (Box 7) figure is more than twice the annual precept/rates & levies value (Box 2).

Section 2	2016/17 £	2017/18 £	Variance £	Variance %	Detailed explanation of variance (with amounts £)
Box 2 Precept or Rates and Levies	£600	£800	£200	33%	Increased precept to increase contingency fund for election costs, etc.
Box 3 Total other receipts	£164	£8	£156	95%
Box 4 Staff costs	0	0	0	0
Box 5 Loan interest/ capital repayments	0	0	0	0
Box 6 All other payments	£1144	£558	£586	51%	Village signs purchased in 2016/17 for £600.  None purchased in 2017/18.
Box 9 Total fixed assets & long term investments & assets	0	0	0	0
Box 10 Total borrowings	0	0	0	0
Explanation for ‘high’ reserves	Not applicable (total reserves figure is £727, annual precept is £800)