Agenda item

Bev Dixon Finance Manager LGSS presented a report that had been circulated prior to the meeting, and tabled a paper which documented further changes to it.  This item was considered at this meeting in advance of it being presented to Cabinet on 11^th November.  She confirmed that interest rates had dropped which has an adverse impact on investment returns and an example of this was highlighted in the report.  There were no signs that the interest rates would increase in the future.

She advised that there were no variations to the policy and practise in the year.

In response to a question from Councillor Golby, the Finance Manager confirmed that other not for profit organisations would be able to deposit funds with the council as Billing Parish Council had, subject to Chief Finance Officer approval, but there was no guarantee that the rates applied would offer best available to them.

AGREED:  That the report be noted.