At last night’s Isle of Wight full council meeting (catch up with our live reporting here) the sticky subject of finances at Christ the King College was raised.
Readers will remember the very public ding dong between the school and the Isle of Wight council at the end of last year, which was followed by the unexpected retirement of Pat Goodhead, the former Principal.
What is the level of current debt?
The school now has a new ‘Interim Executive Principal’ and at last night’s meeting Cllr Debbie Andre (Island Indie) asked what the current level of debt was and whether this was having an effect on the pupils.
The Cabinet member for Children’s Services and Education, Cllr Paul Brading confirmed the current level of debt was £2.7m. He added that this was “effectively a working overdraft”.
Five year plan agreed
Cllr Brading went on to say a plan to repay over a five year period had been agreed,
However, the new Interim Principal has advised they may be able to make more savings and repay the debt faster.
Building debt
This plan only tackles the debt to the council. Cllr Brading said he couldn’t comment about the debt on buildings – given that issue is going through mediation at the moment.
He finished by confirming that the situation would have no effect on the pupils.
Image: Public Domain
