Icelandic banks
I was relieved to learn this morning that Kingston Council has no investments in Icelandic banks.
(That must be my shortest posting ever....)
Back to entriesComment on this entry
Comments: 2
Stars
: 0
: 0
SurbiTom
on
09 October 2008
at
18:51
I'm glad to hear it but where does RBK invest its spare cash and should it have any in the first place when we are being asked to pay more and more Council Tax each year?
on
09 October 2008
at
23:16
0star(s) awarded
It's not 'spare cash'. Funding that flows into the Council, including council tax, is invested on a daily rate basis until it is needed. This generates extra income which is set against council tax and keeps it lower than it otherwise would be. This is considered a very prudent use of public funds, and the investment team have been praised by the District Auditor for the way they do this.
For all categories