Where funding comes from
Where the Council's funding comes from.
Contents
Overview
We plan to spend £276.4m in 2024 / 25 to provide services for South Tyneside's residents, including £119.0m on education.
Most of our money comes from Government (around 73%) either through our revenue support grant, dedicated schools grant (funding for education) or from business rates. The remaining 27% of our money comes from the council taxpayers.
We expect to receive council tax income of £75.4m in 2024 / 25.
Where we expect our money to come from in 2024 / 2025
Revenue Funding: £276.4m
- Council Tax: 27.3%
- Revenue Support Grant: 6.7%
- Business Rates: 19.2%
- Dedicated Schools Grant: 43.0%
- Contribution from Reserves / Collection Fund / Services Grant: 3.8%
- 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 Rates collected with the Government grant being reduced accordingly.