Every November, parish councillors will agree what their spending plans are for the following financial year. This means that they set a budget, and then separately agree how to fund the work.
Their first action will always be to examine what funds are remaining in the council's current and savings accounts. Some of these funds may already be ringfenced for projects in the parish or to pay for existing expenses. Any difference between the cost of maintaining parish services and whatever free money there is will be met by way of a local tax. This is called the 'precept' and is set by councillors at their November meeting. The precept is collected by Cornwall Council along with your council tax. If you need information about ways to reduce the amount of council tax and precept you pay, follow this link to Cornwall Council's advice pages.