THE floodwater not only inundated several homes in Upper Slaughter, it also robbed the village of a chance to raise thousands for local good causes.
The cancellation of the popular village fete on Sunday has means that the church and village hall are up to £10,000 worse off.
Parish council vice-chairman Anthea Gough said: "The fete is our main fundraising event of the year, so having to cancel it is a big loss."
Several houses at the lower end of the village were flooded out as the River Eye, which flows through the village, began to rise. Villagers were still working to divert floodwater out of the road on Tuesday morning.
"Everybody deserves thanks for all their hard work," said Mrs Gough. "In particular Hadrian Kibblewhite, who lives in the village, and Martin Cook, who was visiting from Essex. They have both worked so hard."
Fete organisers have decided that it would be too expensive to reschedule the fete for another day, and are instead working on a programme of smaller events.
The first of these will be held on Saturday and Sunday, August 4-5, when the village hall will be the venue for a sale of goods and items saved from the cancelled fete.