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The latest national statistics on the budget estimates of local authority revenue expenditure and financing for 2014 to 2015 were released on 23 July 2014 under arrangements approved by the UK Statistics Authority.

The key points from the latest release are:

• revenue expenditure is budgeted to be 拢98.8 billion in England in 2014 to 2015, a decrease from 拢102.2 billion in 2013 to 2014; the majority of this decrease was due to a decrease in education expenditure, from 拢38.8 billion in 2013 to 2014 to 拢35.8 billion in 2014 to 2015
• education expenditure for 2014 to 2015 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
• 24.3% of budgeted revenue expenditure in 2014 to 2015 is estimated to be funded through Council Tax, 32.0% through formula grant and 41.3% through specific grants inside Aggregate External Finance and Local Services Support Grant; these percentages were 22.9%, 32.8% and 43.1% respectively in 2013 to 2014
• local authorities are budgeting total net current expenditure of 拢35.8 billion on education services in 2014 to 2015, 拢22.1 billion on social care, 拢21.0 billion on mandatory housing benefits and 拢11.1 billion on police services
• in 2014 to 2015 local authorities are budgeting to draw down 拢2.1 billion from their reserves to finance their revenue expenditure, of which 拢0.9 billion is due to Greater London Authority; in 2013 to 2014 local authorities were budgeted to draw down their reserves by 拢1.2 billion