Sheffield City Council's budget and spending plans.
Revenue budget
Revenue spending covers the day-to-day running costs of our services, such as schools, adult and children's social care services, planning and leisure. Most of our money goes on our staff or contractors who provide these services for the community and the running costs of buildings, offices, vehicles and other facilities.
As part of our budget setting process each service is required to develop a Budget Implementation Plan (BIP). These plans detail our spending for the year ahead showing what activities will be undertaken, anticipated pressures and savings to be delivered.
The General Fund BIPs were approved at Full Council on Wednesday 6 March 2024.
We don’t pay for the Police and Fire Service out of the day-to-day budget. Your Council Tax includes a separate amount to directly fund these services. You can read our Revenue Budget 2024 to 2025 or find out more about our spending on our Council Tax spending page.
The 2024 to 2025 Revenue Budget was agreed subject to the amendments outlined in section 3 of the resolutions passed at the budget meeting on 6 March 2024.
Housing Revenue Account
The Housing Revenue Account is the financial account of the Council as landlord. It is ring-fenced in law for income and expenditure in respect of council housing and housing land and certain activities in connection with the provision of council housing only.
Our money goes on delivering services to our tenants and improving our council housing stock and estates in Sheffield.
The Housing Revenue Account BIPs were approved by Full Council on Wednesday 7 February 2024.
Capital programme
Capital spending pays for buildings, roads and housing and for major repairs to them. It does not pay for day-to-day services.
The Capital Investment Programme in 2023 to 2024 is £214.1 million. The main elements of the programme will be:
- Transport
- Regeneration and climate change (including Heart of the City II)
- New Homes
- Council housing investment
Over the 5-year life of the Capital Programme, most of our capital projects are paid for by borrowing or contributions from our housing revenue budget to the capital budget. The remainder of our capital projects are funded by grants, the sale of surplus assets and other contributions. We repay the cost of borrowing from our day-to-day revenue spending, often from the savings generated by the projects which allow us to deliver services more efficiently.
Where the money goes in 2023 to 2024
Our spending this year is £214.1 million. This breaks down into:
- Council housing investment and New Build 50%
- Transport regeneration and climate change (Including Heart of the City II) 28%
- Communities, parks and leisure 9%
- Education children and families 6%
- Economic development and skills 6%
- Corporate estate investment 1%
Where the money will come from in 2023 to 2024
We will raise £214.1 million from:
- Revenue contributions 26.8%
- Prudential borrowing 42.4%
- Government grants 18.3%
- Sale of surplus assets 3.8%
- Other grants and contributions 8.7%
Please see the Capital Strategy and Budget Book 2023 to 2053 for more further information.
If you have any views or comments on the budget please write to:
Philip Gregory
Director of Finance and Commercial Services
PO Box 1283
Town Hall
Sheffield
S1 2UJ