Grendel
Well-Known Member
Same council with a projected budget defecit of £44 million - that council?
This is the same council that built the Ricoh.
I thought it came from Reserves.
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Hi guys! Anyone know if this new hotel will have Wifi?!?! Thanks in advance!
One things for sure...once this sorry, sorry mess ever ends, us Sky Blue fans will be the most clued up on land ownership, hedge funds, club owneship webs, accountancy, account submissions, due dilligence, City Council workings etc etc.
I feel a new business venture coming on.....
Free in the lounge Brian, chargeable in the bedrooms, £15 for 24 hrs
Hate it when hotels do that, then they get all arsey when you have a wank to You Porn in the bar area.
Can't win!
Same council with a projected budget defecit of £44 million - that council?
Hate it when hotels do that, then they get all arsey when you have a wank to You Porn in the bar area.
Can't win!
I might suggest to the big-wigs in my chain about 'private-booths' in the lounges.
Doing my bit for the community and all that....
That is how I understood it. The Council didn't take the money from current budgets or even its reserves, but was able to borrow the money at a lower interest rate than what ACL were having to pay, and they were able to pass those savings onto ACL. Provided ACL continue to make those repayments then the Council and local ratepayers won't lose out, and indeed should make a small profit. However if ACL did default on the repayments then the Council would be liable. Presumably ACL have been making these repayments for over a year now, and their next accounts should at least give an indication of their future outlook.The council have borrowed the money commercially, the borrowing merely has to be 'affordable' and in line with CIPFA professional prudential code.
What does that mean "from council funds"? I assume it didn't come out of the education budget.
Any news on where the money came from?
Same council with a projected budget defecit of £44 million - that council?
That is how I understood it. The Council didn't take the money from current budgets or even its reserves, but was able to borrow the money at a lower interest rate than what ACL were having to pay, and they were able to pass those savings onto ACL. Provided ACL continue to make those repayments then the Council and local ratepayers won't lose out, and indeed should make a small profit. However if ACL did default on the repayments then the Council would be liable. Presumably ACL have been making these repayments for over a year now, and their next accounts should at least give an indication of their future outlook.
Cheers - somebody understands that the council are on the hook for the money if ACL don't repay!
Extra supllies of tissue paper might need to be oredered in before the start of that though.
Ohhh....additional overheads on top of 'booth-build' costs. I think you might have to remain 'public' Lord with your self-love sessions. I can get sign off on the booths...the tissue supply you would need would push budgets over my limit I'm afraid.
Sorry chief. Happy play-time though!
My keep fit regime working a treat now, been using the Jane Fonda video.
Got a right arm like Arnold Scwarzenegger.
Better than using an Arnold Schwarzenegger video* and having an arm like Jane Fonda!!! LOL!
(*I've never knowingly masterbated to an Arnold Schwarzenegger video.)
Cheers - somebody understands that the council are on the hook for the money if ACL don't repay!
The thing is we keep seeing these sort of comments made without the slightest bit of evidence that payments can't be afforded. We also know that we are in Northampton for one reason only.....to try and send ACL to the wall. Shall we wait until the accounts are shown before we keep saying that the taxpayer will lose out?
And then wait for certain posters to make comments about that years accounts not being realistic because of certain eventsACL's accounts have shown the arena to be a going concern each year so far. And each year they make more money as they build up the business. And this will be good for our club once we have an owner that don't want to rip off the taxpayer, CCC, a charity or anyone else that stands in the way of so called investors making a fortune.
Cheers - somebody understands that the council are on the hook for the money if ACL don't repay!
Be great if you could close the loop and add that ACL are less liable to repay if the football club don't pay ACL. Just in the interests of balance, you know....
I suppose seine who leased some land to a retail franchise like Jessops said the same thing a few years ago.
£44 million could soon be £56 million deficit overnight. Still its only public services and the vunerable who'd suffer it if goes belly up so who cares?
Are you suggesting that ACL can't survive without the football club?
Heretic!
Are you suggesting that ACL can't survive without the football club?
Heretic!
Are you suggesting that ACL can't survive without the football club?
Heretic!
Do you know how council budgets work?
So are you saying if ACL failed to pay the loan there is zero impact on the council budget?
Honest question on timings: had City said they're building a new ground when this deal was done? Just wondering if the plan for restructuring ACL took no CCFC into account.
Nope. Read the words 'less liable' and see how that sits with 'can't survive'; then realise they're quite different
Hello mr strawman, how you doing?
I can suggest some great adult literacy classes if you're having trouble with your reading.
I'm saying that just because the council loses money in one place doesn't mean it has to cut elsewhere. Bad debt will be a risk factored in I'm sure, just like the many other variables.
It's not all one pot.
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