To review the financial position of the Whitecross PFI contract and inform Schools Forum of any necessary action.

The strategic finance manager presented the findings of the triennial review of the Whitecross PFI contract, it was noted that the Council was adding an additional £100k to the annual cost of the contract due to inflationary pressures.

In response to a query the SFM confirmed the contract ends in 2031.

Resolved:

That:

a) The council’s planned increase of £100,000 for 2024/25 to bring the annual base budget to £1,128,350 per annum was noted

b) The annual contribution be reviewed taking account of the then inflation rate at the next triennial review in Autumn 2026;

c) The report of the next triennial review be received by Schools Forum in January 2027