Tuesday, 17 February 2009 14:48

Trust Bond Matures

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£10k boost to Trust funds

Trust funds have received a welcome boost with the news that our Bank of Scotland bond has matured,adding £10,554 interest to the Societies funds.

This brings our total available funds to £364k.

A WST spokesman stated;
"The Board has decided to reinvest £345,554.79 for a further six months.This will allow the Board sufficient funds to meet ongoing liabilities as well as ringfencing the £15k designated to help any squad strengthening that Dean Saunders feels necessary.

Obviously, due to the base rates dropping sharply over the last three months, the interest rate availble has dropped to 2% from the 6.25% we received in the summer.

We are waiting for official confirmation from the Bank of Scotland to the amount of interest we will receive but we expect it to be in the region of £3,400"