A move by council chiefs to curb borrowing in a bid to reduce debt saved the authority £83,000 in the last financial year.
High Peak Borough Council instead used internal resources to find the £1.4 million needed to meet financial pressures in the tax year ending April 2021.
A council report stated: “Currently the cost of potential new external borrowing is greater than the interest income lost through reduced investment opportunities resulting from this internal borrowing.
“The practice of avoiding new borrowing by utilising spare cash balances has served well over recent years in terms of making net savings on financing costs.”
On March 31 this year, the authority owed £66,825,404 in external loans.
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