The Local Government Changes For England (Property Transfer and Transitional Payments) Regulations 1995

Calculations by Designated Authorities

3.  The amount of C shall be determined in accordance with the formula—

where—

• E is the amount which is the difference between—

  (a)

  the aggregate of financial reserves and relevant provisions in the final accounts; and

  (b)

  the aggregate of any revenue account deficits in those accounts or the accounts in respect of any preceding financial year for which provision has not already been made;

• F is the amount which is—

  (a)

  where the designated authority is a successor authority in relation to an abolished authority, the aggregate of—

  (i)

  the appropriate amount of so much of any financial reserves in the final accounts as is attributable to amounts set aside—

  (a)

  in connection with any property which has been transferred to the designated authority; or

  (b)

  for the purpose of meeting any liabilities which have been so transferred; and

  (ii)

  so much of any relevant provisions in those accounts as is attributable to amounts which were set aside or applied in that connection or for that purpose; and

  (b)

  where the designated authority is the relinquishing authority in relation to a transferred area, the aggregate of—

  (i)

  the appropriate amount of so much of any financial reserves in the final accounts as is attributable to amounts set aside—

  (a)

  in connection with property other than property which has been transferred to the acquiring authority; or

  (b)

  for the purpose of meeting any liabilities other than liabilities which have been so transferred; and

  (ii)

  so much of any relevant provisions in those accounts as is attributable to amounts which were set aside or applied in that connection or for that purpose;

• GA is—

  (a)

  in a case where the designated authority is a successor authority in relation to an abolished authority, the amount which is the aggregate of—

  (i)

  the net book value of debts owed to the abolished authority the right to which has been transferred to the designated authority; and

  (ii)

  the net book value of stocks which are attributable to property which has been so transferred; and

  (b)

  in a case where the designated authority is the relinquishing authority in relation to a transferred area, the amount which is the aggregate of—

  (i)

  the net book value of debts owed to that authority other than debts the right to which has been transferred to the acquiring authority; and

  (ii)

  the net book value of stocks which are attributable to property other than property which has been so transferred;

• GB is—

  (a)

  in a case where the designated authority is a successor authority in relation to an abolished authority, the amount which is the aggregate of—

  (i)

  the appropriate value of so much of the item in the final accounts which relates to debts owed to the abolished authority as is attributable to debts the right to which has been transferred to the designated authority; and

  (ii)

  the appropriate value of so much of the item in those accounts which relates to stocks as is attributable to property which has been so transferred; and

  (b)

  in a case where the designated authority is the relinquishing authority in relation to a transferred area, the amount which is the aggregate of—

  (i)

  the appropriate value of so much of the item in the final accounts which relates to debts owed to that authority as is not attributable to debts the right to which has been transferred to the acquiring authority; and

  (ii)

  the appropriate value of so much of the item in those accounts which relates to stocks as is not attributable to any property which has been so transferred; and

• H is the aggregate of the amounts found in relation to all participant authorities in respect of items A and B in paragraph 2 above.