The Parish Council has a duty to set a budget, which will account for all of the income and expenditure over the coming year. The income will be the amount of income raised from the City Council's services. The precept is the amount of money required to fund the council's activities and it is raised locally from the properties in the parish. The Council normally thinks of the precept as a whole sum, but to the residents, it is seen as a cost per household, which is based on the overall council tax due.
The budget must be set by December, so that the precept demand can be made to the Chelmsford City Council in January. To see the council's deliberations, you can refer to the Finance and Resources meetings which considered the preparatory work in producing this budget.
To see agreed 2018 - 19 Precept, click HERE