The Newtown & Llanllwchaiarn Town Council draft budget for the next financial year hints a rise of just under £8,000 in the local precept, whilst still taking more than £89,000 from reserves.

The draft budget, which is due to be considered at the next meeting of the Resources committee on Monday 21st November 2022 hints at rise in the council tax precept of around £7,823, with the actual percentage increase to be determined.

The actual percentage rise will depend on the number of properties which are liable for council tax - a figure which changes year on year and something which Powys County Council's Cabinet is set to review in a two weeks time.

The draft budget as presented includes a movement from financial reserves of £89,010 to plug a funding gap between income and expenditure. This builds upon a £70,000 approved drawdown from reserves for the current financial year, further eroding the town council's reserves.

According to the town council's budget setting timetable, committees will now examine a third draft budget based on their requirements and work plans which will be examined in December. The full council will approve the next year's budget at a special meeting on the 11th January 2023.