Local Government Finance Act 1992

3In estimating the expenditure mentioned in paragraph 1 above which they will incur in respect of any financial year a local authority shall take into account—

(a)such additional sum as is in their opinion required—

(i)to cover expenses previously incurred;

(ii)to meet contingencies; and

(iii)to meet any expenses which may fall to be met before the money to be received from the sources mentioned in paragraph 1 above in respect of the next following financial year will become available; and

(b)any means by which any part of that expenditure may otherwise be met or provided for.