Value of loans to academies

J Downs made this Freedom of Information request to Department for Education

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Dear Department for Education

I should be grateful if you could let me know the total amount lent to academies up to end of the financial year 31 March 2017.

I should also be grateful if you could let me know repayment terms eg interest charged per annum and duration of loan.

Please could you let me know the reasons for academies asking for loans.

I look forward to hearing from you.

Yours faithfully,

J Downs

ACCOUNT, Unmonitored, Department for Education

Thank you for contacting the Department for Education. We can confirm that
we have received the Freedom of Information request you submitted.

We will respond to you within 20 working days.

 

ACCOUNT, Unmonitored, Department for Education

Dear J Downs

Thank you for your recent enquiry. A reply will be sent to you as soon as possible. For information; the departmental standard for correspondence received is that responses should be sent within 20 working days as you are requesting information under the Freedom of Information Act 2000. Your correspondence has been allocated reference number 2018-0014199.

Thank you

Department for Education
Ministerial and Public Communications Division
Tel: 0370 000 2288

show quoted sections

ACCOUNT, Unmonitored, Department for Education

 

Dear J Downs,

 

Thank you for your request for information, which was received on
21/03/2018. Your request was as follows:

 

I should be grateful if you could let me know the total amount lent to
academies up to end of the financial year 31 March 2017.

 

I should also be grateful if you could let me know repayment terms eg
interest charged per annum and duration of loan.

 

Please could you let me know the reasons for academies asking for loans.

 

I have dealt with your request under the Freedom of Information Act 2000.

 

Academies are not allowed to take out loans. However, the department may
provide advances of funding, as part of a package of support, to enable a
trust to achieve the financial stability that maintains educational
standards.

 

If you require information regarding these advances of funding, please
contact me to confirm what information is required.

 

If you have any other queries about this letter, please contact me. Please
remember to quote the reference number above in any future communications.

 

If you are unhappy with the way your request has been handled, you should
make a complaint to the Department by writing to me within two calendar
months of the date of this letter.  Your complaint will be considered by
an independent review panel not involved in the original consideration of
your request. 

 

If you are not content with the outcome of your complaint to the
Department, you may then contact the Information Commissioner’s Office.

 

Yours sincerely,

 

Joanna Tang

 

 

 

Web: [1]https://www.education.gov.uk
Twitter: [2]https://www.twitter.com/educationgovuk
Facebook: [3]https://www.facebook.com/educationgovuk

 

References

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Dear Ms Tang

You have told me that the DfE does not lend money to academies except when support is needed to maintain financial stability. I should be grateful if you could let me know the total amount of such support awarded to academies in the academic year ending 31 March 2017 and details of repayment (length of loan, time).

You say the DfE only lends money to academies in the circumstances outlined above. But the Condition Improvement Fund information says:

'Academies and sixth-form colleges can take out a loan for all or part of the project costs in their CIF proposal to demonstrate their commitment to the scheme.' https://www.gov.uk/guidance/condition-im...

I should be grateful, therefore, if you would let me know the value of loans awarded to academies for condition improvement in the academic year ending 31 March 2017 and repayment terms.

I look forward to hearing from you as soon as possible.

Yours sincerely,

J Downs

ACCOUNT, Unmonitored, Department for Education

Thank you for contacting the Department for Education. We can confirm that
we have received the Freedom of Information request you submitted.

We will respond to you within 20 working days.

 

ACCOUNT, Unmonitored, Department for Education

Dear J Downs

 

Thank you for your recent enquiry. A reply will be sent to you as soon as
possible.

 

For information; the departmental standard for correspondence received is
that responses should be sent within 20 working days as you are requesting
information under the Freedom of Information Act 2000. 

 

Your correspondence has been allocated reference number 2018-0018447

 

Thank you

 

Department for Education

Ministerial and Public Communications Division

Tel: 0370 000 2288

 

You have told me that the DfE does not lend money to academies except when
support is needed to maintain financial stability.   I should be grateful
if you could let me know the total amount of such support awarded to
academies in the academic year ending 31 March 2017 and details of
repayment (length of loan, time).

 

You say the DfE only lends money to academies in the circumstances
outlined above.  But the Condition Improvement Fund information says:

 

'Academies and sixth-form colleges can take out a loan for all or part of
the project costs in their CIF proposal to demonstrate their commitment to
the scheme.'  [1]https://www.gov.uk/guidance/condition-im...

 

I should be grateful, therefore, if you would let me know the value of
loans awarded to academies for condition improvement in the academic year
ending 31 March 2017 and repayment terms.

 

I look forward to hearing from you as soon as possible.

 

 

References

Visible links
1. https://www.gov.uk/guidance/condition-im...

ACCOUNT, Unmonitored, Department for Education

Dear J Downs,

 

 

Thank you for your request for information, which was received on
20/04/2018. Your request was as follows:

 

“You have told me that the DfE does not lend money to academies except
when support is needed to maintain financial stability.   I should be
grateful if you could let me know the total amount of such support awarded
to academies in the academic year ending 31 March 2017 and details of
repayment (length of loan, time).

 

You say the DfE only lends money to academies in the circumstances
outlined above.  But the Condition Improvement Fund information says:

 

'Academies and sixth-form colleges can take out a loan for all or part of
the project costs in their CIF proposal to demonstrate their commitment to
the scheme.'  https://www.gov.uk/guidance/condition-im...

 

I should be grateful, therefore, if you would let me know the value of
loans awarded to academies for condition improvement in the academic year
ending 31 March 2017 and repayment terms.”

 

I have dealt with your request under the Freedom of Information Act 2000.

 

In 2016-17, the Department provided a total of £16,287,804 in advances and
funding to enable trusts to achieve financial stability. Academy trusts
are expected to repay any additional funding once they have reached a
stable financial position, as part of a recovery plan agreed with the
ESFA.

 

As you have noted, the Condition Improvement Fund is an exception to the
rule against academies taking out loans. The value of loans awarded to
academies for condition improvement in the academic year ending 31 March
2017’, I have taken this to mean the financial year ending 31 March 2017.
I can confirm that no loans were awarded to academies for condition
improvement in the financial year ending 31 March 2017.

If you have any queries about this letter, please contact me. Please
remember to quote the reference number above in any future communications.

 

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If you have any queries about this letter, please contact me. Please
remember to quote the reference number above in any future communications.

 

If you are unhappy with the way your request has been handled, you should
make a complaint to the Department by writing to me within two calendar
months of the date of this letter.  Your complaint will be considered by
an independent review panel not involved in the original consideration of
your request. 

 If you are not content with the outcome of your complaint to the
Department, you may then contact the Information Commissioner’s Office.

 

 

Yours sincerely 

 

Lateef Agboola

Education and Skills

Funding Agency

Sanctuary Buildings, Level 5

Great Smith Street

Westminster

London

SW1P 3BT

 

 

 

Web: [4]https://www.education.gov.uk
Twitter: [5]https://www.twitter.com/educationgovuk
Facebook: [6]https://www.facebook.com/educationgovuk

 

References

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I have written about this here: http://www.localschoolsnetwork.org.uk/20...