{
  "url": "https://openlegislation.uk/local-authorities-funds-england-regulations-1992/schedule-2/paragraph-8",
  "json_url": "https://openlegislation.uk/local-authorities-funds-england-regulations-1992/schedule-2/paragraph-8.json",
  "legislation": "uksi/1992/2428",
  "legislation_title": "The Local Authorities (Funds) (England) Regulations 1992",
  "legislation_url": "https://openlegislation.uk/local-authorities-funds-england-regulations-1992",
  "path": "schedule/2/paragraph/8",
  "kind": "paragraph",
  "number": "8",
  "heading": null,
  "text": "(1) A billing authority’s exceptional balance for the financial year beginning on 1st April 2021 is calculated in accordance with the formula—\nwhere—\nS 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));\nT is the billing authority’s prior year balance, calculated in accordance with sub-paragraph (2) below.\n(2) A billing authority’s prior year balance for the year beginning on 1st April 2021 is calculated by applying the formula—\nwhere—\nU is the amount referred to in paragraph 2(3)(a);\nV is the amount referred to in paragraph 2(3)(b)(iii);\nW is the amount referred to in paragraph 2(4)(a);\nX is the amount referred to in paragraph 2(4)(b)(iii).",
  "extent": null,
  "status": null,
  "version": "current",
  "annotations": [
    {
      "type": "F",
      "label": "F1",
      "text": "Sch. 2 Pt. 3 inserted (1.12.2020) by The Local Authorities (Collection Fund: Surplus and Deficit) (Coronavirus) (England) Regulations 2020 (S.I. 2020/1202), regs. 1, 2(7)"
    }
  ],
  "outstanding_effects": [],
  "provenance": {
    "source": "legislation.gov.uk",
    "source_url": "https://www.legislation.gov.uk/uksi/1992/2428/schedule/2/paragraph/8",
    "retrieved_at": "2026-10-29T14:15:16.910996+00:00"
  },
  "licence": "Open Government Licence v3.0",
  "licence_url": "https://www.nationalarchives.gov.uk/doc/open-government-licence/version/3/",
  "attribution": "Contains public sector information licensed under the Open Government Licence v3.0. Source: legislation.gov.uk, The National Archives."
}