[42A Calculation of council tax requirement by authorities in England]
Local Government Finance Act 1992 (1992 c 14) | Legislation

Calculations by major precepting authorities

[42A  Calculation of council tax requirement by authorities in England]

[(1)     In relation to each financial year a major precepting authority in England must make the calculations required by this section.

(2)     The authority must calculate the aggregate of—

(a)     the expenditure the authority estimates it will incur in the year in performing its functions and will charge to a revenue account for the year in accordance with proper practices,

(b)     such allowance as the authority estimates will be appropriate for contingencies in relation to amounts to be charged or credited to a revenue account for the year in accordance with proper practices,

(c)     the financial reserves which the authority estimates it will be appropriate to raise in the year for meeting its estimated future expenditure, and

(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.

(3)     The authority must calculate the aggregate of—

(a)     the income which it estimates

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