It has prompted a response from Helen Briggs Chief Executive of Rutland County Council
The response to my e-mail from Mrs Briggs is gratefully received.
I am pleased to hear, the member of the public is receiving copies of statements.
Please can I also be emailed copies FIO request.
At the meeting the member of public made a very public request, to see the statements and this request was refused outright by Mrs Briggs, why does the public always need to resort to FIO.
What does Mrs Briggs and our council have to hide?
The Council does not listen to the public and it is not transparent.
The email does not explain why Council Leader Roger Begy lied.
At a previous public meeting "the council had received all the £1,000,000 invested in Iceland"
I can not see how it is possible for either me or other members of the public to have heard incorrectly?
Rutland County Council does not listen to the public and it is not transparent. Councillor Gale seems to be the only Councillor listening to the public. At Wednesdays meeting he mentioned the majority of the public he meets, say their council is not listening.
From
Martin Brookes
From: HBriggs@rutland.gcsx.gov.uk
To: martinjbrookes@hotmail.com;
Date: Wed, 26 Jan 2011 12:53:05 +0000
Subject: RE:
The information quoted in Mr Brookes email of January 22 was provided as part of freedom of information request from a member of the public and reflected the position as at the 17 January. At that time the amount owed to the Council from Heritable Bank was £546,000 on an initial investment of £1,000,000.
At the Public Budget consultation both the Leader and Chief Executive made the audience aware that we are advised the Council will get back over time 85% i.e. £850,000 and that to date we have received about 50% i.e. £500,000.
On 18 January a further repayment of £47,000 was received bringing the total repayment received to date to £501,000 and the balance owed £499,000. We have therefore received just over 50% of the original £1m invested.
Surplus cash balances are invested in such a way to generate maximum income whilst leaving enough flexibility to bring cash back into the Council’s main bank account at short notice. This is the reason for the range of interest rates earned, i.e. the longer the money is invested for the higher the interest rate.
The request made to see copies of bank statements has not been refused, the Council are in the process of compiling the information.
Rutland County Council £19.634.173.80 cash investements
RUTLAND COUNTY COUNCIL
INVESTMENTS AS AT 17 JANUARY 2011
Rutland County Council has public money invested with the following organisations:
HSBC - Sterling Liquidity Fund
HSBC - Money Market
Coventry Building Society
Lloyds TSB
Bank of Scotland
London Borough of Brent
Skipton Building Society
Santander
Nationwide Building Society
Overseas Chinese Banking Corporation
Barclays Bank
Overseas Chinese Banking Corporation
Clydedale Bank
Yorkshire Building Society
Principality Building Society
NMRothschild&Sons
Heritable Bank - ln Administration
£19.634.173.80 is the total sum invested and interest rates are very poor these range from 0.33% in the HSBC (a total disgrace) to the higher 1.8% paid by both Lloyds TSB and The Bank of Scotland.
What interests me the most is Heritable Bank this pays 6.09%
This is a Landsbanki owned Scottish Bank,
The Leader of Rutland County Council Roger Begy said we had lost £1,000,000.00 in this bank.
Last year he told the public "we had got it all back"
This week The Leader of the Council Roger Begy said he never said such a thing?
He said Rutland County Council had recovered £850,000 and it was likely the Council will loose £125,000
This was confirmed by Helen Briggs Chief Executive.
Why are they lying?
A freedom of information request reveals there is only £546,096.29 deposited in this account where is the other £453903.71
I am aware a member of the public has made a Freedom of Information request to see hard copies of Statements relating to all the above investments. Rutland County Council has refused to provide these. Why? What do they have to hide? This is public money.
I am not sure who Rutland County Council employs these days to control finances, but surely this needs to be looked into.
Why are the public being asked how should we save £650,000 of important service when there is this amount of money invested.
£650,000 is a small amount of the total sum the council intends to cut, another 100+ staff will be going soon.
INVESTMENTS AS AT 17 JANUARY 2011
Rutland County Council has public money invested with the following organisations:
HSBC - Sterling Liquidity Fund
HSBC - Money Market
Coventry Building Society
Lloyds TSB
Bank of Scotland
London Borough of Brent
Skipton Building Society
Santander
Nationwide Building Society
Overseas Chinese Banking Corporation
Barclays Bank
Overseas Chinese Banking Corporation
Clydedale Bank
Yorkshire Building Society
Principality Building Society
NMRothschild&Sons
Heritable Bank - ln Administration
£19.634.173.80 is the total sum invested and interest rates are very poor these range from 0.33% in the HSBC (a total disgrace) to the higher 1.8% paid by both Lloyds TSB and The Bank of Scotland.
What interests me the most is Heritable Bank this pays 6.09%
This is a Landsbanki owned Scottish Bank,
The Leader of Rutland County Council Roger Begy said we had lost £1,000,000.00 in this bank.
Last year he told the public "we had got it all back"
This week The Leader of the Council Roger Begy said he never said such a thing?
He said Rutland County Council had recovered £850,000 and it was likely the Council will loose £125,000
This was confirmed by Helen Briggs Chief Executive.
Why are they lying?
A freedom of information request reveals there is only £546,096.29 deposited in this account where is the other £453903.71
I am aware a member of the public has made a Freedom of Information request to see hard copies of Statements relating to all the above investments. Rutland County Council has refused to provide these. Why? What do they have to hide? This is public money.
I am not sure who Rutland County Council employs these days to control finances, but surely this needs to be looked into.
Why are the public being asked how should we save £650,000 of important service when there is this amount of money invested.
£650,000 is a small amount of the total sum the council intends to cut, another 100+ staff will be going soon.
Rutland Resident
Read More: http://martinbrookes.blogspot.com/2011/01/rutland-county-council-1963417380-cash.html
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