The Local Authorities (Capital Finance and Accounts) (England) Regulations 2000

Amendment of the Accounts and Audit Regulations 1996

3.  Insert the following paragraph after paragraph (4) of regulation 6 of the Accounts and Audit Regulations 1996(1);

“(4A) In the case of a local authority which is required by section 74 of the Local Government and Housing Act 1989 (“the 1989 Act”) to keep a Housing Revenue Account, the statement of accounts required by paragraph (1) shall include also an account in respect of a reserve for major repairs to property of the authority to which section 74(1) of the 1989 Act for the time being applies (to be called a major repairs reserve), showing in particular both:

(a) a debit in respect of expenditure which is—

(i) excluded from the obligation in section 41(1) of the 1989 Act because of regulation 12A of the Local Authorities (Capital Finance) Regulations 1997, and

(ii) not carried to the debit of the Housing Revenue Account of the authority under item 2(b) of Part II of Schedule 4 to the 1989 Act; and

(b) a credit of an amount in respect of any charge for depreciation included in the Housing Revenue Account under item 8 of Part II of Schedule 4 to the 1989 Act.”.

(1)

S.I. 1996/590.