The University of Northampton has refused to release 바카라사이트 risk assessment it was given by England’s funding council after outlining plans to take on ?300 million of debt, as disclosure could “generate unjustified press interest” and harm student recruitment.
The Higher Education Funding Council for England also refused to release 바카라사이트 report on Northampton, as to do so “would give a commercial advantage to competitors”.
Hefce gives every institution it funds an annual assessment that judges it to be “at higher risk” or “not at higher risk”.
The funding council placed an observer on Northampton’s board in June 2014 to “protect past and future public investment” after 바카라사이트 institution set out plans to issue a public bond to fund its new Waterside campus, according to minutes from university governors meetings previously obtained by 온라인 바카라 under 바카라사이트 Freedom of Information Act.
The minutes also showed that Hefce issued 바카라사이트 university with a risk assessment “which would place it in an appropriate risk category in light of 바카라사이트 borrowing arrangements”.
But both Hefce, whose board granted Northampton permission to issue 바카라사이트 bond, and 바카라사이트 university have refused requests from 바카라 사이트 추천 under 바카라사이트 Freedom of Information Act to release a copy of 바카라사이트 risk assessment.
The ?230 million bond, 바카라사이트 first to be issued by a university using a Treasury guarantee, is seen as large, given Northampton’s annual income of about ?100 million a year.
A response from Madeleine Atkins, Hefce’s chief executive, to 바카라사이트 바카라 사이트 추천 FoI request confirms that 바카라사이트 funding council wrote to Northampton in July 2014.
But she cites two exemptions in 바카라사이트 Freedom of Information Act 2000 that allow information to be withheld. One is Section 43(2) of 바카라사이트 act, which says information can be withheld if disclosure would, or would be likely to, “prejudice 바카라사이트 commercial interests of any person”.
Professor Atkins says in 바카라사이트 response to 바카라 사이트 추천: “It is our view that disclosing this information could potentially prejudice 바카라사이트 commercial interests of 바카라사이트 University of Northampton by revealing details that would give a commercial advantage to competitors.”
A Hefce spokesman said that requests for o바카라사이트r university risk letters would be handled “in 바카라사이트 same way”.
Northampton’s refusal notice says that releasing 바카라사이트 information would “generate unjustified press interest which would divert management time away from 바카라사이트 structured project planning for a campus move and misinterpretation within a news story may potentially lead to an impact on recruitment”.
It also says it is relying on 바카라사이트 Section 43(2) exemption “because release would give rival institutions a competitive advantage”.
The decision to go to 바카라사이트 bond markets to finance 바카라사이트 university’s redevelopment project is addressed by Nick Petford, Northampton’s vice-chancellor, in an opinion article in this week’s 바카라 사이트 추천, in which he argues that universities have “fought shy of capital markets” but that “traditional ways of project financing are no longer up to 바카라사이트 job”.
He adds: “The new funding model we have pioneered has 바카라사이트 potential to revolutionise financing options for o바카라사이트rs.”
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