A guide to your business rates

The council's finances

Southwark Council's income and expenditure

The revenue budget is mainly funded by revenue support grant, Council Tax and business rates. Schools are funded through the dedicated schools grant and other government grants.

This table explains our budget:

2021-22
Net Budget
£m

Service

2022-23
Expenditure
£m

2022-23
Income
£m

2022-23
Net Budget
£m

85.5

Children’s services

333.3

-249.6

83.7

86.3

Adult social care

139.7

-52.1

87.6

2.3

Traffic, transport and parking

23.7

-25.5

-1.8

22.3

Highways

28.8

-5.4

23.4

3.8

Planning and economic development

17.6

-13.7

3.9

16.8

Recreation and tourism

20.5

-3.7

16.8

6.7

Libraries

7.5

-0.5

7.0

4.1

Environmental health

9.2

-5.4

3.8

34.2

Refuse collection and disposal

65.3

-31.2

34.1

8.1

Revenue and benefits

166.8

-158.7

8.1

23.0

Other services

251.5

-224.9

26.6

293.1

Total spending on services

1,063.9

-770.7

293.2

293.1

Southwark’s budget requirement

 

 

293.2

(137.2)

Retained business rates, and top up

 

 

(126.6)

(36.6)

Revenue support grant

 

 

(37.8)

3.7

Council Tax deficit (surplus) from previous year

 

 

(0.2)

123.0

Southwark’s Council Tax requirement

 

 

128.6

105,678

Divided by council tax base

 

 

107,267

1,164.14

Which equals Southwark’s band D Council Tax

 

 

1,198.95

38.4

GLA tax requirement

 

 

42.4

105,678

Divided by Council Tax base

 

 

107,267

363.66

Which equals band D Council Tax

 

 

395.59

1,527.80

Total band D Council Tax

 

 

1,594.54

Other key information

At 31 March 2021, the council’s uncommitted reserves were £21 million, investments £146 million and borrowing £886 million. Southwark Council employs approximately 4,362 staff (headcount).

Page last updated: 10 March 2022

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