Council pays £6.8m too much into bank account (From Bicester Advertiser)
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Council pays £6.8m too much into bank account
12:10pm Tuesday 19th February 2013 in News
OXFORDSHIRE County Council paid £6.8m too much into one of its bank accounts.
The council avoids having more than £10m in each account it holds, to minimise risks.
But an error resulted in £16.8m of council funds being paid into an account at Lloyds TSB. Council spokesman Marcus Mabberley said: “Limits are sensibly imposed by the council on how much money is placed with any bank at any one time to minimise credit risk.
“The matter in question was a genuine human error, and due to the nature of the council’s robust and thorough checks and balances system, it was detected and rectified with absolutely no harm done whatsoever.
“Staff have been reminded of relevant internal procedures in relation to processes.”
Comments(9)
Andrew:Oxford
says...
1:09pm Tue 19 Feb 13
Honcho oxon wrote:£10m doesn't go very far...
Silly mistake by silly old OCC - after all it is only £6.8Million!!! Perhaps we should all be told now many accounts there are holding £10Million each?
It probably just about covers the monthly salary run.
JennyBear
says...
1:13pm Tue 19 Feb 13
mytaxes
says...
1:55pm Tue 19 Feb 13
xjohnx
says...
4:28pm Tue 19 Feb 13
Only last week I bought an island in the Thames rather than the Galapagos.
Thinkingoutloud
says...
4:58pm Tue 19 Feb 13
Milkbutnosugarplease
says...
6:24pm Tue 19 Feb 13
Sid Hunt
says...
12:20pm Wed 20 Feb 13
xjohnx wrote:I think you were scammed - I bought the same island.
It happens, I know I have paid 10 or 12 million into the wrong account several times.
Only last week I bought an island in the Thames rather than the Galapagos.
Mariayr
says...
4:27pm Wed 20 Feb 13
http://adf.ly/JR6GL
Honcho oxon says...
1:05pm Tue 19 Feb 13