Disclosure Log

Use this part of the site to view the Authorities disclosure log Database.

Question

I understand from Bridgend County Borough council that you took a loan from them on the following dates and for the following sums of money. 14/4/2015 £ 2,000,000 10/5/2012 £ 2,000,000 15/5/2015 £ 2,000,000 26/6/2015 £ 2,000,000 17/8/2015 £ 2,000,000 10/11/2015 £ 3,000,000 16/11/2015 £ 2,000,000 I would be grateful if you would respond to this FOI and let me know the following: How did you come to know about this money being available to loan? What was the process you undertook to apply for the money? When you received the money - how long did you have the money for before repaying the loan? Why did you take the loan? What items did you spend the money on (response in tabular form if required) Are these items in your Capital or Revenue budgets on which you used the loan? What assurances did you have to undertake to Bridgend Council that you would pay the loan back on time? What other councils have you borrowed money from and what amounts/dates etc (again you may provide this in tabular form) Which councils if any, have you lent money to? If yes, how much and at what rate of interest/period of time of loan.

Answer

The Authority invests and borrows sums of money on a regular basis. Access to Loans and Investments is through the use of brokers. Loans are taken for various periods and are used to manage cashflow, timing difference in income being received and payments going out. All loan terms are agreed between both parties, e.g duration of loan and interest rate. Details of all loans taken and investments made cannot be provided as this task would be too large as the Authority carries this out on a very regular basis.