RBKC’s Budget and Council Tax Requirement for 2023/24
The Council will spend £504 million in 2023/24 on a wide range of day-to-day local services such as:
- social care
- the environment
- leisure facilities
- highways
- transport services
- education and skills development
The charts and table below show the full breakdown of the budget (this excludes Housing Benefit payments and dedicated schools grant which are reimbursed by Government).
2022-23 | 2023-24 | |||
---|---|---|---|---|
Net £000's | Spend £000's | Income £000's | Net £000's | |
Adult Social Care | 38,675 | 71,463 | (33,144) | 38,319 |
Public Health | 0 | 23,271 | (23,271) | 0 |
Children Services | 42,621 | 146,718 | (99,523) | 47,195 |
Environment and Communities | 24,486 | 99,234 | (75,575) | 23,658 |
Housing and Social Investment | 10,938 | 80,331 | (54,093) | 26,238 |
Resources and Customer Delivery | 31,638 | 75,141 | (51,036) | 24,105 |
Grenfell Recovery | 9,503 | 8,169 | 0 | 8,169 |
Total Service Costs | 157,861 | 504,327 | (336,642) | 167,684 |
Levies | 9,245 | 9,824 | 0 | 9,824 |
Corporate items including contingency | 19,983 | 13,219 | 0 | 13,220 |
Capital charges, Interest and investment income | (4,798) | 4,459 | (12,795) | (8,336) |
Transfers to/from Reserves | (8,231) | 8,671 | (5,669) | 3,002 |
Budget Requirement | 174,058 | 540,500 | (355,106) | 185,394 |
Social Care Grant and New Homes Bonus | (9,168) | 0 | (8,544) | (8,544) |
Retained Business Rates (includes Revenue Support Grant) | (64,280) | 0 | (68,555) | (68,555) |
Collection Fund Adjustment | (413) | 0 | 852 | 852 |
New and additional grants | (4,220) | 0 | (10,617) | (10,617) |
Total external funding | (78,081) | 0 | (86,864) | (86,864) |
Council Tax Requirement | 95, 977 | 98,530 | ||
Council Taxbase | 97,280 | 97,732 | ||
Council Tax per Band D without Garden Sqaures levies | £968.88 | £988.26 | ||
Greater London Authority Precept | £395.59 | £434.14 | ||
Total Band D Council Tax | £1,364.47 | £1,422.40 | ||
Council Tax per Band D with Garden Square levies | £986.61 | £1,008.15 | ||
Greater London Authority Precept | £395.59 | £434.14 | ||
Total Band D Council Tax | £1,382.20 | £1,442.29 |
The Council Tax requirement
The Council Tax requirement after taking into account all income and Government funding is £98.5 million. This is an increase of £2.6 million from 2022/23 broken down as follows:
Budget Change | £000's |
---|---|
Social Care Pressures and Contract Inflation | 6,322 |
Provision for (non-social care) Contract Inflation | 5,343 |
Provision for pay inflation 2023/24 | 4,322 |
Provision for extra pay award in 2022-23 | 5,033 |
Provision for energy inflation | 2,756 |
Increased investment income and reduced borrowing costs due to higher interest rate environment and capital programme review | (5,920) |
Increase in External Funding | (8,095) |
Service Growth Pressures | 6,669 |
Service Savings | (11,851) |
Corporate Budget Reductions | (1,750) |
Reduction in Collection Fund Deficit | (688) |
Other | 411 |
Total Change funded by increase in Council Tax income | 2,552 |
What the Council Spends on
The chart below shows how each £100 of Council Tax is spent:

How is it paid for?
Council Tax is just one source of the Council’s income. The chart below shows sources of funding per £100 of income:

Capital Expenditure – Investment into the borough’s homes, roads, schools, leisure facilities.


Looking beyond 2023/24
The Council has set a balanced budget for the 2023/24 financial year, however there are many challenges ahead. The forecasted budget gap is set to reach between £20m and £30m over the three years from 2024/25 depending on the future of Government grants and funding. Further details on how the Council is addressing these challenges, our pressures and risks over the next few years are set out in the budget report.