Covingham Parish Council is funded by a Precept. This is an element of the Council Tax collected by Swindon Borough Council and then passed to the Parish Council to provide services within the Parish. The precept requirements of the parished areas are governed by Sections 39(2), 41 and 50 of the Local Government Finance Act 1992 (the 1992 Act).

The amount for a Band D equivalent property for 2026/27 was set at £123.56 per annum at the Full Council Meeting held on 5th January 2026. This was an increase of £8.92 per year, per Band D Property, on the previous year's (2025/26) rate.

The precept equates to £2.36 per week or £10.29 per month.

The reason for the increase was to due to general increases across all areas.