Along with all councils in London, we face a lot of challenges in managing our budgets. One of the main issues is the reduction in central government grants, which has meant that we must rely more on local revenue sources like council tax and business rates.
Additionally, the increasing demand for social care services, driven by an aging population and rising numbers of vulnerable children, has put significant pressure on council budgets.
Managing these budgets effectively requires careful planning and balancing competing priorities to meet the needs of our community.
See our accounts and audit page for more information.
2023-2024 – our income vs our expenditure
| Directorate | Income | Expenditure |
|---|---|---|
| Children's | 37,206,584 | 116,659,277 |
| Finance | 30,412,213 | 40,244,587 |
| Culture Strategy and Engagement | 41,381,886 | 58,716,500 |
| Environment and Resident Experience | 267,712,173 | 314,056,938 |
| Adults Health and Communities | 113,831,404 | 249,364,777 |
| Placemaking and Housing | 37,061,727 | 44,404,319 |
| * Non Service Revenue | 19,158,801 | 13,001,841 |
| **Aggregate External Finance | 285,638,683 | – |
* Non Service Revenue: for example, levies, private sector contractors, capital financing.
** Aggregated External Finance: for example, council tax, grants, business rates.
2022-2023 – our income vs our expenditure
| Directorate | Income | Expenditure |
|---|---|---|
| Children's | 34,082,063 | 105,234,749 |
| Finance | 27,681,729 | 41,707,617 |
| Culture Strategy and Engagement | 36,558,054 | 49,765,280 |
| Environment & Resident Experience | 282,803,911 | 323,701,664 |
| Adults Health and Communities | 111,248,024 | 231,954,811 |
| Placemaking and Housing | 35,994,621 | 43,686,547 |
| **Non Service Revenue | 16,971,063 | 17,137,971 |
| *Aggregate External Finance | 269,640,488 | – |
* Non Service Revenue: for example, levies, private sector contractors, capital financing.
** Aggregated External Finance: for example, council tax, grants, business rates.