2016 Report details for project: Priority School Building Programme - Private Finance

Project name: Priority School Building Programme - Private Finance - there are 4 reports for this project: 2015, 2016, 2017, 2018
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Organisation: DFE (D6) - see all reports for this organisation
Report year: 2016 (data is from Sept 2015)
Category: Infrastructure - see all reports for this category
Description: To rebuild 46 of the schools in the worst condition across England through Private Finance.
DCA (RAG): Amber/Green
DCA text: The delivery confidence remains amber green. All 5 Private Finance batches have reached financial close. There are 8 PF schools opened to children as at April 2016 and a further 37 schools on site in construction. A total of 30 schools are expected to be open by December 2016.
Start date: 2011-07-19
End date: 2018-04-01
Schedule text: The programme is on track to deliver 45 schools by December 2017 and Oakbank School (which was recommended for listing by Historic England) is expected to open to the public in April 2018.
Baseline: £221.42m
Forecast: £234.35m
Variance: 5.84%
Variance text: Delays to the financial close of 3 batches (HLR, NE & Yorkshire) led to reduced costs and a variance in 15/16 due to delayed start of UC payments aside from one school to 16/17 and 17/18.
Whole Life Cost: £2,085.52m
WLCost text: Forecast Whole Life Costs of £1,517m are significantly below budgeted whole life costs due to favourable interest rates and savings due to the economies of scale of the aggregator structure.
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Sourcefile: IPA_2016.csv

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Acknowledgement: GMPP data has been re-used under the Open Government Licence.