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 |
Service |
2022-23 |
2022-23 |
2022-23 |
|---|---|---|---|---|
|
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
