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Local Government and Housing Act 1989

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This is the original version (as it was originally enacted).

63(1)In section 95 (calculations to be made by authorities) for subsection (2) there shall be substituted the following subsections—

(2)The authority must calculate the aggregate of—

(a)the expenditure the authority estimates it will incur in the year in performing its functions in the year and will charge to a revenue account for the year;

(b)such allowance as the authority estimates will be appropriate for contingencies in relation to expenditure to be charged to a revenue account for the year;

(c)the financial reserves which the authority estimates it will be appropriate to raise in the year for meeting the estimated expenditure referred to in subsection (2A) below;

(d)such financial reserves as are sufficient to meet so much of the amount estimated by the authority to be a revenue account deficit for any earlier financial year as has not already been provided for; and

(e)any amounts it estimates will be charged to a revenue account in respect of the authority’s general fund or City fund, as the case may be, by virtue of a transfer,—

(i)pursuant to regulations under section 89(5) above, of such an additional sum as is referred to in subsection (3)(d) of section 98 below; or

(ii)pursuant to a direction under subsection (5) of that section, of such an amount as is referred to in that subsection.

(2A)The estimated expenditure referred to in subsection (2)(c) above is—

(a)that which the authority estimates that, in the financial year following the year in question, it will incur, will charge to a revenue account and will have to defray before sums to be transferred as regards that year from its collection fund to its general fund or to the City fund (as the case may be) become sufficiently available; and

(b)that which the authority estimates it will incur in the financial year referred to in paragraph (a) above or any subsequent financial year in performing its functions and which will be charged to a revenue account for that or any other year.

(2B)References in subsections (2) and (2A) above to expenditure incurred by the authority shall be construed in accordance with section 41(3) of the Local Government and Housing Act 1989.

(2)In subsection (3) of that section, for the words following “the aggregate of” there shall be substituted—

(a)the sums which it estimates will be payable for the year into its general fund or into the City fund (as the case may be) and in respect of which amounts are to be credited to a revenue account for the year;

(a)the amounts which it estimates will be transferred from its collection fund to its general fund or the City fund (as the case may be) pursuant to a direction under section 98(4) below and credited to a revenue account for the year; and

(b)the amount of the financial reserves which the authority estimates that it will use in order to provide for the items mentioned in paragraphs (a), (b) and (e) of subsection (2) above.

(3)In subsection (7) of that section, after the word “which” there shall be inserted “in accordance with section 97 below”.

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