Sutton's Bandon Hill Cemetery is set to benefit from a revised treasury strategy that will see a significant portion of its cash reserves moved into a higher-interest account, potentially boosting its income. As of March 31, 2025, the cemetery held £763,940 in general reserves, according to the Report of the Surveyor.
The Bandon Hill Cemetery Joint Committee convened on 10 November 2025, to discuss the treasurer's report, which highlighted that the cemetery's cash was currently earning 2% interest in a Lloyds bank account. The committee was informed that Sutton Council has access to a Lloyd's Government Call account offering a more attractive rate of 3.77%.
To maximise returns, the committee approved a recommendation to initially deposit £715,000 into the Lloyd's Government Call account on their 'overnight rate' and keep the remaining balance in the main bank account, according to the Report of the Treasurer. The difference in interest earned on £715k between 2% and 3.77% can be calculated to estimate the anticipated increase in income.
The treasurer's report also noted that there is no fixed term for deposits into the call account when placed on the 'overnight rate'. The committee can withdraw or deposit funds to manage cash flow and ensure sufficient balance in the main account for required payments. According to the Report of the Treasurer, the Government Call placement is considered a type of savings account, and there are no material risks to the cemetery's funds by using this option because the balance in the call account cannot decrease like other investments.