AUDITORS have again raised concerns that Lampeter Town Council is holding too much cash back in its reserves, with the council sitting on a stockpile of over £130,000.

The council has almost double the recommended amount of cash kept back for a rainy day.

For the past six years, the council has held well over £100,000 in reser­ves in the bank, with the council’s auditors BDO expressing concern over the high level.

The recommended amount to be held in reserve is the same as the annual­ precept, but no more than twice – so should be a maximum of £82,000 for the town, which collected £41,000 from the town’s taxpayers last year.

Lampeter Town Council currently has £132,833 sitting in the bank.

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