Term | Acronym | Description |
| A grant provided by the Department to fund the acquisition, creation or long-term enhancement of school buildings, facilities and ICT. The Department transfers Capital Grant to Local Authorities when local projects require payments to be made to the private sector partner. | |
| The cost of changing public sector requirements in the services and assets provided in a PFI project once it enters the operational phase. | |
| This method of procurement involves the contractor being responsible for design as well as construction. The main contractor will use either in-house designers or employ consultants to carry out the design. Most of the construction work will be carried out by specialist or sub-contractors. Does not include responsibilities for financing or operating school buildings as commonly seen in PFI projects. | |
Management of services relating to the operation of a building. Includes such activities as maintenance, security, catering and external and internal cleaning. | ||
| Local authorities are required to submit a Final Business Case as a requirement of reaching financial close with their preferred bidder. It is the final approval prior to the release of funding and therefore approval to enter into the agreements for each scheme. | |
| Communication devices or applications, as well as the various services associated with them, used in a school environment. | |
The internal rate of return for an investment is the discount rate that makes the net present value of the investment's income stream total to zero. It represents the annual return on the investment after taking account of all payments and returns and the timing difference between them. It can be used to compare the investment to, say, the interest rate on a bank account. | ||
Financial and non-financial measures used to help an organisation define and measure progress toward organisational goals. | ||
| The cost of maintaining and replacing all the component parts of an asset and related services over its life span. | |
| The Local Improvement Finance Trust is a partnership procurement programme established by the Department of Health in 2000 to provide capital investment in primary and community care based services. LIFT is delivered locally through 47 LIFTCos; limited companies with the local NHS, Community Health Partnerships and the private sector as shareholders. The LIFTCo owns and maintains new healthcare buildings and leases the premises to Primary Care Trusts, Local Authorities and other healthcare professionals. | |
| A Local Education Partnership is a public private partnership between a Local Authority, Building Schools for the Future Investments and a private sector partner, to construct and maintain local infrastructure. | |
The council aims to improve the Further Education and training sector to raise standards and to make learning provision more responsive to the needs of individuals and employers. | ||
The governance model for agencies established by Government to deliver specific objectives that are not part of a Government department. | ||
Official means of informing the progress of a particular competitive procurement to the European public. | ||
| The Outline Business Case is a document which is completed by a Local Authority to gain formal approval for a BSF project to move into procurement. It builds on the strategic vision set out earlier in the project and looks at what is achievable and affordable. | |
| Local Authorites chosen to be pilot projects in the BSF programme. | |
| A bidder selected from the shortlist to carry out exclusive negotiations with the Local Authority. | |
The private sector partner undertakes the design, construction and financing of an asset and thereafter maintains it for an extended period, often 25 or 30 years. Local Authorities are obliged to pay yearly unitary payments to the private sector partner, which are funded by central government through PFI credits. | ||
| Usually a consortium of private sector contractors who enter into negotiations with the Local Authority to provide services to construct and maintain infrastructure and ICT. | |
| The price of goods or services after the effects of inflation has been taken into account. | |
| A team within the Department for Children, Schools and Families which leads the strategic direction of BSF and other school capital programmes. | |
Strategic Partnering Agreement
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| A standard contract between a Local Authority and a private sector party which gives exclusive rights to the LEP to deliver projects for a fixed period, likely to be 10 years. |
The Education and Skills Select Committee
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| Now known as the Children, Schools and Families Committee, its terms of reference were to examine "the expenditure, administration and policy of the Department for Education and Skills and its associated public bodies". |
| The Project Review Group oversees the approval process for local authority PFI projects that receive Government support. It is the gatekeeper for the delivery of PFI credit funding to the Local Authority PFI programme. | |
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| Taking a view of the construction, operation and maintenance of the asset over the whole life of the project. |