The Parish Council is primarily funded through a levy on the council tax applied by Peterborough City council. This levy is called the Precept.
Every year the council has to budget its costs for the following year and from that budget request an appropriate Precept from Peterborough City Council.
Bainton and Ashton have made it their policy to make this demand as low as possible and only cover the day to day running of the council and Parish over the year to minimise the financial load on the residents.
In England and Wales the council tax paid by all households is made up of several elements to pay for services provided by County Council, District Council (in Peterborough these are combined in the City Council), Police, etc. The Precept is the element charged by your local or parish council and is collected on its behalf as part of the overall Council Tax demand. In 2015-16 87% of local councils in England are collecting a tax averaging (for a Council Tax Band D household) £54.12.