The latest national statistics on the provisional outturn estimates of local authority revenue expenditure and financing for 2012 to 2013 were released on 29 August 2013 under arrangements approved by the UK Statistics Authority.
The key points from the latest release are:
- total revenue expenditure by local authorities in England was £94.4 billion in 2012 to 2013, a decrease of 5% from £99.3 billion in 2011 to 2012
- education expenditure for 2012 to 2013 is not comparable to previous years due to a number of schools changing their status to become academies, which are centrally funded rather than funded by local authorities; as a result of this discontinuity, total net current expenditure is not comparable between 2011 to 2012 and 2012 to 2013
- local authorities net current expenditure for education services was £37.1 billion in 2012 to 2013
- 28.3% of revenue expenditure in 2012 to 2013 was funded through Council Tax, 29.5% through formula grant and 44.7% through specific grants inside Aggregate External Finance and Local Services Support Grant; these percentages were 26.6%, 29.7% and 46.1% respectively in 2011 to 2012
- in 2012 to 2013 local authorities added £2.6 billion to their reserves, this includes figures for the Greater London Authority, who added £0.9 billion to their reserves; excluding GLA, authorities added £1.6 billion to their reserves; in 2011 to 2012 local authorities added £2.6 billion to their reserves