ILAM PARISH COUNCIL
Explanation of Variances
Please provide full explanations, including numerical values, for the following:
· variances of more than 15% between totals for individual boxes (except variances of less than £200);
· a breakdown of approved reserves if the total reserves (Box 7) figure is more than twice the annual precept/rates & levies value (Box 2).
Section 2 
2016/17 £ 
2017/18 £ 
Variance £ 
Variance % 
Detailed explanation of variance (with amounts £) 
Box 2 Precept or Rates and Levies 
£600 
£800 
£200 
33% 
Increased precept to increase contingency fund for election costs, etc. 
Box 3 Total other receipts

£164 
£8 
£156 
95% 

Box 4 Staff costs 
0 
0 
0 
0 

Box 5 Loan interest/ capital repayments 
0 
0 
0 
0 

Box 6 All other payments 
£1144 
£558 
£586 
51% 
Village signs purchased in 2016/17 for £600. None purchased in 2017/18. 
Box 9 Total fixed assets & long term investments & assets 
0 
0 
0 
0 

Box 10 Total borrowings 
0 
0 
0 
0 

Explanation for ‘high’ reserves 
Not applicable (total reserves figure is £727, annual precept is £800) 