The precept is the Parish Council's share of the council tax. The precept demand goes to the billing authority, North Norfolk District Council, which collects the tax for the Parish Council. The 'Precept' is converted into an amount per Council Tax Band that is added onto the Council Tax bill. Income and Expenditure for the next financial year are calculated in the form of estimates.

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Parish and Town councils can apply for other funding such as grant and funding awards, but they do not receive funds direct from central government as principle authorities do.