Decisions

In accordance with the attached Officer Decision Record, the Director (Resources and Property) has made a decision to repay the £4m loan to Barclays, along with associated early repayment fees and other costs totalling £4,374,473 (subject to interest rate movement since the quote on 20 January 2023).  The accrued interest figure is based on a repayment date of 1 February 2023.

The Director (Resources and Property) has made the decision to repay the £4m loan to Barclays, along with an estimated early repayment premium of £307,320, accrued interest of £57,153 and fees of £10,000. 

This is subject to interest movements since the quote was obtained.  0.1% movement in interest rates is anticipated to have an estimated £100,000 impact on the early repayment premium.

The accrued interest figure is based on a repayment date of 1 February 2023.

In accordance with the attached Officer Decisions Record, the Director (Resources and Property) has made a decision on the implementation of the Energy Bills Support Scheme – Alternative Fund, following the allocation of funding from Government.

The Director (Resources and Property) has made the decision to use the following approach to allocate the Energy Bills Support Scheme – Alternative Funding payments to households:

1.   To replicate the Government eligibility criteria for the scheme, as set out in the Government guidance [not published at this point].

2.   For the scheme to be administered by Anglia Revenues Partnership.