Where funding comes from
Contents
Overview
We plan to spend £260.2m in 2023 / 24 to provide services for South Tyneside's residents, including £108.0m on education.
Most of our money comes from Government (around 72%) either through our revenue support grant, dedicated schools grant (funding for education) or from business rates. The remaining 28% of our money comes from the council taxpayers.
We expect to receive council tax income of £72.3m in 2023 / 24.
Where we expect our money to come from in 2022 / 2024
Revenue Funding: £260.2m
- Council Tax: 27.8%
- Revenue Support Grant: 6.7%
- Business Rates: 19.3%
- Dedicated Schools Grant: 41.4%
- Contribution from Reserves / Collection Fund / Services Grant: 4.8%
- Parking Revenues: <1%
Business rates
The amount that local businesses pay is calculated by applying a multiplier set by the Government to the rateable value of a property.
The Government introduced a new system of accounting for Business Rates from 2013 / 14 in that the Council is now allowed to retain a proportion of Business.
Contact the team
If you need help with any of the information on these pages contact Democratic Services.
The team can be contacted by phone or online.
To get in touch call 0191 424 7691 or email democraticservices@southtyneside.gov.uk.