Local Management of Schools Capital Loan to Bridstow CE Primary School
Decision Maker: Director of Children and Families
Decision status: Recommendations Approved
Is Key decision?: No
Is subject to call in?: Yes
To approve a loan from school balances of £16,000 to Bridstow CE Primary School. £12,000 is to fund 10% of the cost of replacing the current failed boilers with an Eco-hybrid heating system and £4,000 to allow the school to upgrade its Information Communication Technology (ICT) infrastructure (by purchasing more up to date iPads) to facilitate new methods and approaches to learning that have come out of lock-down.
a) A capital loan of £16,000 to Bridstow CE Primary School be approved at 0% interest, repayable from April 2022 at four annual instalments of £4,000 for the contribution to the new heating system and upgrade of ICT infrastructure.
Alternative options considered:
1. The alternative option is not to grant the school the loan as requested in which case they will need to seek alternative funding for the replacement of the heating system, and the ICT infrastructure upgrade will not proceed. This is not recommended as it may result in the school being without heating whilst alternative funding is sought.
Wards Affected: Llangarron;
Contact: Karen Jones, Corporate Finance Assistant Email: firstname.lastname@example.org.
Publication date: 03/09/2021
Date of decision: 03/09/2021
Effective from: 10/09/2021