206 The rent allowance account.S
(1)A local authority shall keep a rent allowance account for each year.
(2)The authority shall—
(a)credit that account with the amount of rent allowance subsidy payable to them under section 32 of the Social Security and Housing Benefits Act 1982;
(b)debit that account with—
(i)the amount of the authority’s rent allowances for the year, and
(ii)the authority’s costs of administering their rent allowances for the year.
(3)Where for any year a deficit is shown in the account, the local authority shall credit the account in respect of that year with the amount of the deficit.