Private School Loan

In addition to the £11 million Greenfields School loan, the council made a further £6.4 million loan to another private school. Like the Greenfields loan, this was funded through PWLB borrowing.

The loan adds to the pattern of the council using publicly borrowed money to fund private institutions, a practice far outside the normal scope of local authority activity.

The total of over £17 million lent to private schools represents a relatively small portion of the council's overall lending, but exemplifies the unconventional and poorly governed approach to commercial activities.

The status of this loan is under review as part of the commissioners' work to assess the council's full financial position.