Proposed budget for the financial year 2019/20

Business ratepayers in the district are invited to comment on our proposals for the budget for the financial year 2019/20, commencing 1 April 2019.

Consultation on council budget for 2019/20

The draft budget will first be considered by the Policy & Finance Committee on 21st February 2019, and recommended to Council on 7th March 2019 when the budget and level of council tax for 2019/20 will be formally agreed. We would therefore appreciate your comments before 5pm Thursday 21st February 2019. See our 'How to respond' section below.

Our budget proposals

In line with other local authorities, we are facing further significant reductions to our government funding. This means we are looking at ways of working more efficiently, and of generating more income. By doing this we can become more financially self-sufficient, protecting services wherever possible.

The proposals most relevant to local businesses include:

  • The creation of a new development company to generate new revenue and delivering cost reductions through trading and business improvements.
  • The capital programme includes provision for the Castle Gatehouse project and the creation of a new fit for purpose homelessness hostel.

These developments will provide opportunities for the local work force and businesses, and increase the number of apprenticeships available. Bringing more employees into Newark town centre will also have an impact on the local economy.

  • A budget has been proposed to help raise the profile and awareness of the destination of Newark and Sherwood and its attractions through an improved online experience. 
  • A budget has been proposed in relation to the creation of a masterplan for Newark Town Centre.

These initiatives will bring residents and increased visitor numbers to our town centres and other locations, which will benefit local shops and businesses.

Business rates

Business rates continue to be based on valuations provided to us by the Valuations Office Agency and the national multiplier (50.40p in the pound or 49.10p where small business rate relief applies) set by central government. The District Council keeps approximately 9 pence of every £1 of business rates collected. The rest is paid over to central government, the County Council and Nottinghamshire Fire & Rescue Authority.

Further information

The complete budget reports are available below:

How to respond

Please send any comments on the Council's budget proposals to Sanjiv Kohli, Director Resources, S151 Officer and Deputy Chief Executive and Nick Wilson, Business Manager Financial Services, using one of the methods below by 5pm Thursday 21st February 2019.

Postal address:

Newark & Sherwood District Council
Castle House
Great North Road
Newark
Nottinghamshire
NG24 1BY

e-mail: sanjiv.kohli@nsdc.info and Nick.wilson@nsdc.info

telephone: 01636 655000

To book a face-to-face meeting with Sanjiv or Nick, please arrange an appointment with the PA team by telephone on 01636 655911, or by email at PAGroup@newark-sherwooddc.gov.uk

Contact us

Newark and Sherwood District Council
Castle House
Great North Road
Newark
Notts
NG24 1BY

01636 650000

customerservices
@nsdc.info

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    Great North Road
    Newark
    Notts
    NG24 1BY

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