D
Deleted member 5849
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We have minutes for a discussion about buying a pencil sharpener back in 1993.
Riveting stuff.
Same with me. I have to provide receipts for all my travel and claims. Does seem strange.
Unbelievable - you sound like a politician.
£14 million less in cash
£14 million more in debtors (ie an asset), with interest due as extra income.
Think you forgot to mention that
This bit is interesting. I always thought that CCC didn't borrow the money but used funds they already had in reserve?
The Council to use its prudential powers to borrow the sum of £14.4 million.
The Council to provide a loan of £14.4 million to Arena Coventry Limited.
I thought they got it from some central fund or something?
This bit is interesting. I always thought that CCC didn't borrow the money but used funds they already had in reserve?
The Council to use its prudential powers to borrow the sum of £14.4 million.
The Council to provide a loan of £14.4 million to Arena Coventry Limited.
£14 million less in cash
£14 million more in debtors (ie an asset), with interest due as extra income.
Think you forgot to mention that
A fair few and myself said several times that CCC got a loan of 14.4m and then loaned it to ACL. IIRC they also charged a slightly higher interest rate to ACL than they got it for. But yourself and others still said it was taxpayers money.
You would have lost out on a technicality in court
Apologies then, missed that. I was always under the impression that they used their own cash.
Apologies then, missed that. I was always under the impression that they used their own cash.
Is It over the yet ??
The stats suggest CCFC had 80% of play based on Tweets ,however we're still awaiting the first goal.
Wonder how many pages this thread will run to,I'm f***ing dreading a delay to the JR ,horendous prospect .
When will this stop??
Is It over the yet ??
The stats suggest CCFC had 80% of play based on Tweets ,however we're still awaiting the first goal.
Wonder how many pages this thread will run to,I'm f***ing dreading a delay to the JR ,horendous prospect .
When will this stop??
I've stated on here before that prudential borrowing is councils borrowing from the financial markets. It's not like using the public borrowing scheme that gives preferential rates. Not sure what rate the council are paying.
I've stated on here before that prudential borrowing is councils borrowing from the financial markets. It's not like using the public borrowing scheme that gives preferential rates. Not sure what rate the council are paying.
This bit is interesting. I always thought that CCC didn't borrow the money but used funds they already had in reserve?
The Council to use its prudential powers to borrow the sum of £14.4 million.
The Council to provide a loan of £14.4 million to Arena Coventry Limited.
I've stated on here before that prudential borrowing is councils borrowing from the financial markets. It's not like using the public borrowing scheme that gives preferential rates. Not sure what rate the council are paying.
A fair few and myself said several times that CCC got a loan of 14.4m and then loaned it to ACL. IIRC they also charged a slightly higher interest rate to ACL than they got it for. But yourself and others still said it was taxpayers money.
You would have lost out on a technicality in court
When SISU get the arena or finally give up
So if the Council are getting better rates off ACL than they are paying on the loan there is no problem?
Who repays it if ACL go belly up?
Who repays it if ACL go belly up?
That's possibly distorted competition. ACL have been able to access a rate that other companies haven't.
I think the idea is that the loan is secured against an asset (the lease) and should SISU default the council gain possession of an asset of greater value than the outstanding balance. They can either put the lease up for sale in the hope of achieving a sale price greater than the amount owed or takeover the running of the arena and hope that profits are higher than repayments.
Of course the flip side is that if no one wants to buy it or the arena doesn't make enough money then they will have to cover repayments, presumably from reserves.
Same with me. I have to provide receipts for all my travel and claims. Does seem strange.
Big if isn't it. I would say that repayments will be down to about 300k. And ACL have been doing better than that. If that is the case SISU are about to pay them two years worth of payments. Why do you think they are so pissed off with the remortgage?
I agree a bit odd.
One place I worked at briefly had moved over to an online system for expenses and it was causing a few headaches. One girl had spent £200+ on a train ticket and hotel room/meals after a day visit to another office up North had resulted in an overnight stay. She got back to claim her expenses complete with receipts etc. to discover her boss was away and was the only person who could authorise her on the system. The firms finance people said they couldn't pay her expenses without her boss okaying everything but could offer her a loan. This loan would be interest free but that would make it a taxable benefit and would therefore probably need to be declared on her P60 etc. She gave up and put everything on the credit cards until her boss got back from holiday to okay it.
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