Every year the Parish Council receives income called the Annual Precept from Leeds City Council. The amount of the Precept is recommended by the Parish Council, agreed by LCC and then applied to all the various projects and day to day expenditure deemed appropriate by the Parish Council. 

Parishioners may have noticed that their Council Tax bills include an amount relating to this local Precept. In the year to 31 March 2008 the amount of the Precept for Barwick and Scholes was £38,000 and the 2008/09 Financial Statements show how the council spent this money. 

There is a separate finance committee of the council which meets on a regular basis to manage financial aspects, but the annual budgets are agreed by the full Parish Council and monthly statements of expenditure are scrutinised at full Parish Council meetings. All major items of expenditure are researched thoroughly and tenders requested, in order to ensure good value for money is obtained.