Where our funding comes from
We plan to spend £218.0m in 2019/20 to provide services for South Tyneside's residents, including £94.0m 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 £60.5m in 2019/20.
Where we expect our money to come from in 2019-20
Revenue funding £218.0m
- Council Tax 27.8%
- Revenue Support Grant 6.7%
- Business rates 22.1%
- Dedicated Schools Grant 43.0%
- Contribution from Collection Fund 0.4%
- Parking revenues <1%
The amount that local businesses pay is calculated by applying a multiplier set by the Government to the rateable value of the 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 Rates collected with Government Grant being reduced accordingly.