Tenby Town Council has increased its precept for the year 2007/08. Estimated expenditure for the forthcoming financial year will rise from £134,487.31 in 2006/07 to £139,007.31. At Tuesday night's meeting of the council, members agreed to the amended budget, making the town's portion of the Band D council tax levy £54.14 for the year - an increase of £1.26 on the current figure. Reporting on factors determining the budget, the council's financial officer and clerk, Mr. Andrew Davies, stated: "By the end of this financial year we will have considerable reserves, but previous recommendations of the council have earmarked them for expenditure on various projects, including the restoration of the Dyster Memorial Fountain; the creation of a toddler play area on The Jubilee and the enhancement of The Green. "Accounting guidance notes for local councils also states that local councils need to retain a 'working balance'. "Average monthly expenditure by the council is in the region of £15,000 plus. With funds already earmarked, this would leave the council with a working balance to sustain it for about six weeks, so there would be marginal funding available to use any reserves to meet part of the proposed budget," he explained. Mr. Davies also pointed to projects that the council had given funding to as a factor in the increase, such as grant aid to support the De Valence Young Performers for the next three years and also the UK town crier competition, which is due to be staged in the town next April. Councillors agreed to the budget for 2007/08.
