North Lanarkshire Municipal Bank Minutes 12 March 2002

Directors In Attendance, A Crichton, Director of Finance North Lanarkshire Council (Company Secretary)

J Quinn, Assistant Treasury Manager North Lanarkshire Council

Apologies
Councillors, J Pentland, F Griffin, and J Shaw - Directors

Approval of Minutes of Previous Meeting

The minutes of the meeting held on 4 September 2001 were tabled and unanimously approved.Annual Accounts

A set of audited accounts was tabled and circulated. It was noted that draft accounts had previously been circulated. The attention of the Directors was drawn to the audit statement and to the section highlighting the reduction in amounts due to depositors and the number of accounts held compared to the previous years. The Directors unanimously agreed to the signing of the accounts and noted that they had to be lodged with Companies House by the end of January 2002.Resolution to re-appoint Auditors

BDO Stoy Hayward offered themselves for re-appointment in accordance with S385 of the Companies Act 1985. The Directors unanimously agreed to the re-appointment.Review of Interest Rates

It was decided that in the light of the current economic climate that the interest rates currently being paid to depositors require to be reviewed but only once a detailed examination of the whole financing structure of the bank has taken place. It was agreed that a report on the investment strategies and interest rates be prepared for discussion at the next meeting of the board of directors. Date of next meeting

To be advised.

Please use the links below for more information the

• Investment Strategy 12 March 2002
• Interest Rate Review 12 March 2002