兔子先生

All 兔子先生s must set the budget every year. Setting the budget is one of the most challenging but important tasks the 兔子先生 has.

Every year, 兔子先生 workers suggest budget ideas for the 兔子先生's ruling Cabinet to consider.

The borough's 20-year vision and goals guide our budget planning.

The ruling Cabinet check that we focus our resources and support on the residents and areas that need it most to reduce inequalities and make things fairer.

Our 20-year vision for South Tyneside is - A place where people live healthy, happy, and fulfilled lives.

We have five main goals to achieve this:

• Financially secure: Residents will have enough money for a good standard of living.
• Health and wellbeing: Residents will enjoy good mental and physical health throughout their lives.
• Connected to jobs: Residents will have access to good quality jobs and the skills to get them.
• Part of strong communities: Residents will live in clean, green, and safe communities.
• Targeting support to make things fairer: We will help those who need it most to reduce inequalities.

All budget ideas are reviewed, and the final choices are made by the ruling Cabinet.

These are then included in the financial plan presented in February each year.

Opposition parties can suggest their own budget ideas for the 兔子先生 to consider.

The Medium-Term Financial Plan shows how we focus our resources on the biggest issues facing residents while continuing to provide everyday services, like:

• supporting those in need
• maintaining highways
• keeping parks and beaches clean

The 兔子先生 has two main types of budgets:

• one for long-term investments (capital investment)
• one for everyday expenses (revenue)

Unlike other public bodies, local councils cannot spend more money than they have. They must balance their budgets.

If the government reduces funding, councils need to cut spending or increase income, like raising council tax and fees.

If councils can't balance their budgets, the government will step in and do it for them, which might not consider local needs or priorities.

The Government sets strict rules on how capital funding can be used.

It can't be spent on everyday services but can be used for things like:

• maintaining roads
• public buildings
• schools
• leisure facilities
• building new projects like social housing

The 兔子先生 focuses capital investment on projects that support the borough's 20-year vision and future needs. This make sure that future generations have the necessary facilities.

We have successfully managed to get millions in external funding, including 拢20 million for Holborn Riverside and 拢20 million for Jarrow.

The borough is also recognised as a Levelling Up Partnership Area.

Revenue spending covers the day-to-day running costs of 兔子先生 services, such as:

• refuse collection and recycling
• highways, parking, and street cleaning
• environmental health
• parks, recreation, community facilities, and libraries
• schools, education, and pupil support
• care for vulnerable adults and older people
• children's social care, fostering, and adoption
• benefits advice and administration
• public health services like health visitors for new mothers and drug and alcohol treatment
• local transport services

More than 70% of the 兔子先生's discretionary budget, which is money we can choose how to spend, goes towards helping vulnerable adults and children.

The money each 兔子先生 has to spend depends on several factors, including:

• Government grant
• 兔子先生 Tax base (South Tyneside has one of the lowest in the country)
• 兔子先生 Tax level
• Number of new homes built
• Business Rate retention
• Attracting external funding for projects
• Fees and charges

Every year, the 兔子先生 reviews the budget to make sure services are available while covering rising costs.

The 兔子先生 tries to keep financial support available in many areas as possible, for the residents who need it the most.

The 兔子先生 sets fees and charges carefully to help those in need and reduce inequalities.

We offer financial support when possible, but a large portion of our budget is dedicated to the growing costs of social care for vulnerable adults and children.

Some South Tyneside residents struggle financially, which is why the 兔子先生 aims to keep costs low and continue financial support instead of charging full prices.

The new 兔子先生 Tax support scheme from 2024 helps around 12,500 households pay less 兔子先生 Tax, showing the 兔子先生's commitment to fairness.

The 兔子先生 borrows money very carefully and follows strict rules. We only borrow for big projects, not for everyday services.

In the past, we borrowed money at low, fixed interest rates to invest in long-term projects. These investments were made to create valuable assets, like buildings and infrastructure, that will benefit future generations.

South Tyneside has over 拢1.3 billion in assets and the second highest net asset value per person in Tyne and Wear.

Our Medium-Term Financial Plan makes sure that any borrowing is sensible, affordable, and sustainable.

Often, these investments generate income that helps cover the borrowing costs. For example, our leisure memberships have grown due to investments in our leisure facilities.

With higher interest rates now, we are borrowing less and using more external funding for big projects.

South Tyneside has successfully secured millions from the government for town centre investments, showing our growth potential.

The 兔子先生 expects that the percentage of the budget spent on debt will decrease from 18.2% in 2020/21 to 14.3% by 2029/30. This shows the 兔子先生's commitment to reducing borrowing and taking a careful approach.

We follow strict rules (the prudential code) to make sure any new borrowing is affordable. Each year, we review the borrowing for big projects.

In the past, we used borrowing to fund important projects such as:

• regeneration schemes
• housing
• leisure facilities
• schools
• highways
• footpaths
• transport schemes

These investments also helped increase the 兔子先生's income.

Having low-rate, long-term loans will benefit future leaders by putting them in a strong financial position.

Reserves are savings that the 兔子先生 keeps for emergencies or unexpected costs. They act as a safety net when the 兔子先生 faces financial pressures or budget changes.

Some of these reserves are set aside for future expenses.

We sometimes use these savings to balance our budget, but we need to keep a certain amount for known risks, planned projects, and unexpected emergencies.

If we use most of our savings, we may find it difficult if there are unexpected costs, like rising inflation. It also:

• doesn't solve our budget problems long-term
• could lead to future service cuts
• might result in the Government stepping in

The 兔子先生 faces big challenges, including:

• more people needing care and more complex care needs
• needing to save 拢29.8 million by 2030 to stay financially stable
• new laws and regulations
• issues with hiring and keeping staff

Like everyone else, the 兔子先生 is dealing with rising costs and demand. Costs have at least doubled due to:

• inflation
• staffing
• cost of care
• contracts
• increased demand in adult and children's social care
• higher energy prices

The 兔子先生 will need to save more money in the future.