The latest national statistics on the budget estimates of local authority revenue expenditure and financing for 2012-13 were released on 12 July 2011 under arrangements approved by the UK Statistics Authority.
The key points from the latest release are:
- Revenue Expenditure is budgeted to be £98.4 billion in England in 2012-13, a decrease from £101.9 billion in 2011-12.
- 27.1 per cent of budgeted revenue expenditure in 2012-13 is estimated to be funded through council tax, 28.4 per cent through formula grant and 44.4 per cent through specific grants inside Aggregate External Finance and Local Services Support Grant.
- In 2012-13 local authorities are budgeting to draw down £21 million from their reserves to finance their revenue expenditure. However, this includes figures for Greater London Authority, who are budgeted to add £481 million to their reserves. Excluding the Greater London Authority, authorities are budgeting to draw down £501 million from their reserves.
- Local Authorities are budgeting total net current expenditure of £39.2 billion on education services in 2012-13, £21.2 billion on social care, £19.6 billion on mandatory housing benefits and £11.6 billion on police services.