Our Precept We are funded by the Precept, a form of local levy, which is part of residents’ Council Tax, and paid via the Powys County Council. We aim to keep the Precept affordable and to keep any increases to a minimum. We have also applied for grants to support local projects. Whilst we run the Council prudently, we do not make profit and any surplus we make is only invested in local projects. Each year we set a budget, which is monitored throughout the year by the Community Council.