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PFI Benchmarking outcome for Bristol Schools
Meeting: 22/06/2021 - Cabinet (Item 19.)
19. PFI Benchmarking outcome for Bristol Schools PDF 594 KB
Additional documents:
- APPENDIX E - Equality Impact Assessment - PFI Benchmarking Outcome v4 - 9.6.21, item 19. PDF 297 KB
- Appendix I BAM Benchmarking Outcome Report - exempt information v2 , View reasons restricted (19./3)
Decision:
Cabinet
- Noted the outcomes of soft services benchmarking exercises undertaken on the Bristol Schools Ltd PFI contracts.
- Authorised the Director of Finance, in consultation with the Deputy Mayor and Cabinet member for Finance, Governance & Performance to accept, subject to complying with obligations in the Academy agreements, the proposal to reduce the annual unitary charge by £98kpa, (1.07% of the total contract value of £9,142,964.55 for 2021/22, which is subject to RPIX) (a whole life contract saving of £1,010,243.56 (subject to RPIX), and instruct the necessary financial adjustments to bring into effect all associated savings.
- Noted that the Director of Finance, in consultation with the Deputy Mayor and Cabinet member for Finance, Governance & Performance, will progress further initiatives with the SPV which give rise to net savings to the Council and/or Schools thereby further reducing the PFI affordability gap, and where necessary seek approval from Cabinet.
- Authorised the Director of Finance, in consultation with the Director of Legal and Democratic Services to negotiate, agree and enter into all necessary documents to give effect to recommendation 2.