TENDRING Council’s leader insists the authority is maintaining its “disciplined” approach to finance, amid the global economic uncertainty.
The authority has revealed how much cash it has in its coffers and how it is invested.
David Lines said that although the council has £29.795 million to its name, only £3.9 million is uncommitted.
The Gazette approached the authority for its figures after a string of councils, including Colchester (£4 million) and Uttlesford (£2 million), revealed they have money in a troubled Icelandic bank.
A summary of Tendring Council’s position shows £15.545 million is invested with banks, £10.25 million with building societies and £4 million in treasury bills.
- More in today's Gazette
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