102.—(1) In this section “local authority” includes a joint body.

(2) In each local financial year, each local authority shall prepare a draft local authority budget setting out for the next local financial year—

(a) the expenditure estimated to be necessary to carry out its functions, and

(b) the income estimated to accrue to it.

F121[(3) The draft local authority budget shall be prepared under the direction of the chief executive in the manner and in the format that may be prescribed by regulations made by the Minister showing the amounts necessary for the functional programmes of the authority.]

(4) The F122[chief executive] shall, as provided for in section 133(4)(a), consult the corporate policy group in the preparation of a draft local authority budget.

F123[(4A)(a) In the case of a county council or a city and county council, the chief executive shall consult the municipal district members for each municipal district in the council’s functional area in the preparation of a draft local authority budget and, for that purpose, a draft budgetary plan for the municipal district shall be prepared under the direction of the chief executive and submitted for consideration by the municipal district members for each municipal district in the manner and in the format that may be prescribed by regulations made by the Minister.

(b) In determining the resources to be made available to each municipal district in the draft budgetary plan, the chief executive shall have regard to—

(i) the needs of, and the resources available or likely to be available to, the local authority, and

(ii) resource needs of each municipal district including, where appropriate, the population of each municipal district.

(c) Following consideration of a draft budgetary plan under paragraph (a), the municipal district members shall by resolution adopt the draft budgetary plan with or without amendment.

(d) The making of amendments under paragraph (b) by the municipal district members is a reserved function.

(e) The chief executive shall take account of any budgetary plan adopted by the municipal district members in preparing the draft local authority budget (in accordance with subsection (2)).]

(5) Any reference in any enactment to an estimate or estimate of expenses of a local authority shall be read as a reference to a local authority budget prepared under this section and adopted under section 103(7).