At the beginning of every local financial year, every county council shall cause to be submitted to them an estimate of the receipts and expenses of such council during that financial year, whether on account of property, contributions, rates, loans, or otherwise

The council shall estimate the amount which will require to be raised in the first six months, and in the second six months of the said financial year by means of contributions.

If at the expiration of the first six months of such financial year it appears to the council that the amount of the contribution or rate estimated at the commencement of the year will be larger than is necessary' or will be insufficient, the council may revise the estimats and alter accordingly the amount of the contribution or rate.