Each year, Seaton Town Council (“the Council”) sets an annual budget  for the following year which is usually approved at a meeting of all councillors in December. After expenditure is agreed, and projected income deducted, this leaves a balance. This is the amount the Council requires to provide its services and is called a precept. The precept is the part of the council tax bill that is paid to Seaton Town Council and for the financial year 2024/25, the precept is £434,763. The amount each household pays is determined by the size of property and each property falls within one of eight bands; for example, the precept for Band D properties in 2024/25 is £132.63 per year. Council tax is collected by East Devon District Council, who then distribute it to Devon & Cornwall Police, Devon and Somerset Fire and Rescue, Devon County Council, East Devon District Council and Seaton Town Council.

The Council is open and transparent in all its financial activities and has a robust system of internal controls to ensure effective financial management. This system is set out in the Council’s Financial Regulations and the Council’s financial and governance arrangements are reviewed regularly by both internal and external auditors who ensure that the Council is carrying out its duties diligently and that appropriate accounting records are being kept. The Annual Governance & Accountability Return (AGAR) for 2023/24 is published below. This was approved at a meeting of the Council on 13 May 2024 and subsequently is currently being reviewed by the Council’s external auditors, PKF Littlejohn, who will consider whether the Council operates good governance in all area and, accordingly, issue a notice of conclusion of audit in due course.