Local Management of Schools Capital Loan to Eardisley 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 £75,000 to Eardisley CE Primary School to create one room for their pre-school, who will pay rent, prior to it being taken on under the leadership of the school. The pre-school have agreed to sign a lease of commitment for eight years. The room will also be used by the school to provide wrap-around care. The building has been designed to the school’s purposes by Border Oak and part of the building is being gifted by them to the school, in addition to the cost of the planning which has already been gifted.
a) A capital loan of £75,000 to Eardisley CE Primary School to create one room for their pre-school be approved at 0% interest repayable from April 2022 at eight instalments of £9,375 for the contribution to the new room.
Alternative options considered:
1. The alternative option is not the grant the school the loan as requested in which case they will need to seek alternative funding for the new room.
Wards Affected: Castle;
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