A college chief has responded to reports of a “secret plan” for Warrington Collegiate to receive an £11.5 million loan from the borough council.
Nichola Newton, Principal at Warrington Collegiate said: “An investment proposal was submitted to the council, in-line with other commercial arrangements the council has made, and has been subject to the council’s officers’ rigorous due diligence.
“The proposal includes a number of capital investments which will enable the college to grow in pace with the ambition of the town and better meet the skills needs evident, as well as a re-financing of the college’s existing loans.
Colin Froggatt
“In this matter, as ever, the college has conducted itself with complete propriety and has engaged with the council in an open and transparent manner. We await the decision of the council.”
Members of the council’s scrutiny committee were due to consider a “call in” by former Labour education chief Cllr Colin Froggatt, backed by Labour, Liberal Democrat and Conservative councillors earlier this week.
But the meeting could not go ahead because Cllr Froggatt was not able to attend, due to a prior engagement.
A meeting of the council’s executive board, to consider the scrutiny committee’s deliberations is due to take place tomorrow, Thursday, because the college, which needs the money to refinance an existing bank loan, requires to know if the money is available by the end of July.
