Decision details

Prudential Borrowing - Werneth High School (EDU1)

Decision Maker: Executive

Decision status: Recommendations Approved

Is Key decision?: Yes

Is subject to call in?: Yes

Purpose:

The Local Authority (LA) provides a Prudential Borrowing Scheme to all LA maintained schools to support schools which are seeking to borrow funds from the council to acquire / enhance capital assets.
To seek approval from the Executive on the recommendation to provide Werneth HS with funds of £0.350m to acquire capital assets financed via the LA Prudential Borrowing Scheme.

Decision:

The Executive considered and approved an application from Werneth High School for prudential borrowing to provide £0.350m of funds to be repaid over a seven year period.

Alternative options considered:

None

Reason Key: Not provided in capital programme;

Wards Affected: Bredbury Green & Romiley;

Equality and/or Environmental Impact Assessment: N/A

Decision Reference: D1834

Declarations or conflicts of Interest: None

Forward Plan Reference: EDU 1

Other reasons / organisations consulted

N/A

Contact: Peter Hughes, Corporate and Support Services Email: peter.hughes@stockport.gov.uk Tel: 0161 474 3947.

Report author: Peter Hughes

Publication date: 20/07/2016

Date of decision: 19/07/2016

Decided at meeting: 19/07/2016 - Executive

Effective from: 27/07/2016

Accompanying Documents: