Decision details

The Corporate Portfolio Holder presented the report to Members.

He outlined the key points of the report and highlighted that the Council’s debt had been reduced, and that although investment returns were currently low the Council had achieved £171,559 interest compared to a budget of £68,000.  Overall he felt that the finances were being managed well and he congratulated the officers for the work undertaken.

Councillor R D Bayliss asked why the Authority still had a billing account with the Co-op Bank.  The Head of Finance explained that it was purely a holding account for the receipt of PayPoint payments and would be cleared regularly.

It was moved by Councillor N J Rushton, seconded by Councillor R D Bayliss and

RESOVLED THAT:

The report be approved.

Reason for decision:  It is a statutory requirement.