FOI Request - Private Financing for Schools
Please answer the following questions relating to private financing arrangements (PPP/PFI or NPD) for schools which have been built in your council area.
1. What is the current annual payment for private financing schemes?
2. Name each school built under the schemes, state its actual cost to build and when; the finance scheme's time frame; the annual repayment cost; and who it is being paid to.
3. How much, in total, is currently outstanding to be paid under the schemes?
4. List any significant repairs which have had to be carried out to schools under the scheme.
Elgin Academy - cost to build £26,678,000
Keith Primary - cost to build £8,405,000
Construction complete Jan 2012.
The finance scheme's time frame is from 2011/12 to 2041/42
The annual repayment cost is variable please see link to Moray Council 2014/15 Accounts here (Note 35 page 87 - 88)
The payment is to IPP (Moray Schools) Limited
3 Payments remaining to be paid under the NPD contract at 31 March 2016 (excluding any estimation of inflation) total £113,412,000
4 Significant repairs at Elgin Academy and Keith Primary schools have been the replacement and repair of internal doors.