London , England ( CNN ) -- Queen Elizabeth II 's annual budget this year is £38.2 million ( $ 57.8 million ) , down from £41.5 million ( $ 62.8 million ) last year , Buckingham Palace announced Monday . That means each British person contributes about 62 pence ( 94 cents ) a year to support the royal household . The drop comes mostly because the queen took fewer charter flights this year and refunded money to the government after selling her old helicopter , the palace said in its annual financial statement for the royal household . Her annual spending has fallen by 17 percent in real terms since 2001 , the palace said . Queen Elizabeth II is worth an estimated £290 million ( $ 446 million ) , making her the 245th richest person in the United Kingdom , according to The Sunday Times newspaper 's annual rich list published in April . The budget does not include the cost of security provided by the army or police . The government covers the Queen 's budget in exchange for her surrendering income from royal holdings , the budget report says . The budget runs from April 1 , 2009 to March 31 , 2010 .
Queen 's 2001 spending has fallen by 17 percent in real terms since annual . Queen is worth $ 57.8 million . Budget does not include the cost of security provided by the army or police .