At a meeting on January 18, council members approved the budget for the financial year April 2012 to March 2013 setting the precept at £316,520. This means an average band D property in Portishead will be charged £31.89 for the year which is more than three per cent less than last year, a reduction for the third year running. Town council chairman Arthur Terry said: The town council is very pleased that in these times of increasing demands on the council, by its management of finances it has been able to reduce the burden on the residents of Portishead. With the additional responsibilities placed on us due to the new Localism Act, this really is a case of Portishead Town Council doing more for less. The precept is money collected at the same time as council tax but is the amount allocated to town councils for them to use for town expenditure. This can involve a range of services and facilities including the provision of allotments, play areas, notice boards, grit bins, public benches, the running of community halls and grant aid to local groups and organisations.