Paragraph 8 F1

A billing authority’s exceptional balance for the financial year beginning on 1st April 2021 is calculated in accordance with the formula—

where—

• S is the billing authority’s estimated surplus (expressed as a positive amount) or deficit (expressed as a negative amount) for the preceding year, calculated in accordance with Part 1 of this Schedule (but ignoring the effect of paragraph 2(7));

• T is the billing authority’s prior year balance, calculated in accordance with sub-paragraph (2) below.

A billing authority’s prior year balance for the year beginning on 1st April 2021 is calculated by applying the formula—

where—

• U is the amount referred to in paragraph 2(3)(a);

• V is the amount referred to in paragraph 2(3)(b)(iii);

• W is the amount referred to in paragraph 2(4)(a);

• X is the amount referred to in paragraph 2(4)(b)(iii).