Part 1Credits to the Account
1. For each year a billing authority which is required to keep a BID Revenue Account (“the account”) shall carry to the credit of the account amounts equal to the items listed in this Part of this Schedule.
Item 1: BID revenues
Sums paid for the year under sections 43 and 45 of the Act.
Item 2: Income from BID services and facilities
Sums received by the authority for the year in respect of services or facilities provided by it (excluding contributions made by it to the BID under section 43(2)(a) of the Act) under the BID arrangements.
Item 3: reduced provision for bad or doubtful debts
The following, namely—
(a)any sums debited to the account for a previous year under sub-paragraph (a) of item 2 of Part 2 of this Schedule which have been recovered by the authority during the year; and
(b)any amount by which, in the opinion of the authority, any provision debited to the account for a previous year under sub-paragraph (b) of that item should be reduced.
Item 4: credit balance from previous year
Any credit balance shown in the account for the previous year.