CHAPTER XIX METHODS AND PROBLEMS OF „ LX)CAL GOVERNMENT Finance Rates Grants-in-Aid Municipal Property and Enterprise Loans Management Committees and Meetings Councillors Officers Parties Relations with Central Government Regionalism FINANCE. The local authorities spend every year a sum approaching £5005000,000. As they are not sovereign bodies the ways in which this money is raised and the accounts are kept, are fixed by law. The best known source of local income is (i) Rates. These are levied by the rating authorities, which are the Boroughs and Districts. The Counties and Parishes secure their money by making a precept 06 the rating authorities, i.e., requiring them to collect a certain amount in addition to their own needs; for ordinary purposes, a Parish Council cannot require more than is produced by a fourpenny rate, but a Parish Meeting may double"5 this sum. Every rating authority sets up a Rating Committee, which has to decide the rateable value of all properties, or hereditaments, as they are called, in the area. This is an extremely complicated task, and the method by which it is tackled varies with the different types of property. Where the property is of a 300