RESIDENTS in Okehampton will see a decrease in their contributions to the town council's funds.

At a meeting of the town council on Tuesday week, councillors agreed to reduce the town precept for 2011/12 to £195,000 compared with £205,201 for 2010/11.

The reduction of almost 5% represents a saving of around £9 for Band D council tax payers.

Cllr Maureen McDonald said that in the current economic climate a reduction in the precept would be beneficial to local residents, and that the council should work to provide the greatest value for money for local people.

The town council precept forms part of the overall council tax bill for households.

The majority of the funds go to Devon County Council for its services, while West Devon Borough Council and the Police share the remainder.