Finance

The Upper Medway IDB is governed by the Land Drainage Act and finance regulations set out by DEFRA. We produce financial statements and results of our audits annually to allow transparency and scrutiny of our management of public funds. Along with an internal audit we also submit our financial documents to an external auditor who will then give a frank and thorough report on anything that needs addressing.

DEFRA also require us to submit information relating to both finance and governance via a form called an IDB1. This allows for trends and failings to be monitored to ensure Boards meet the standards expected of a public body.

To see our recent financial returns please click here.

 

Income is raised through the levy of rates to land owners within the IDD. This is broken into 2 separate demands, agricultural and special levy. Agricultural rates are a rate specifically sent to individual land owners who are under the management of the IDB. Special levies are sent to councils for them to collect on our behalf from landowners who’s property is covered by council tax or business rates. Some landowners and bodies are not subjected to levied rates. Companies such as Network Rail and Highways are exempt under special conditions. Rates demands raised by the Board are payable on the day of receipt. The Board has the power to exact legal cases against those who do not pay under the Land Drainage Act.

To see more information about Rates and Levies click here

To see FAQ’s relating to rates and levies click here

 

 

The Board is working to minimise its impact upon local levies by establishing a consistent approach to rate setting. It seeks to achieve this by using forecasting and alternative funding to maintain a rate that is fair and acceptable to members of all walks, whilst still allowing the Board to achieve its strategic goals.

  • 2025/26 – 2%    increase
  • 2024/25 – 3%    increase
  • 2023/24 – 5%    increase
  • 2022/23 – 1.5% increase
  • 2021/22 – 5%    increase