The value of private finance initiative (PFI) projects included in the core Department and Environment Agency’s balance sheets as at 31 March 2007 was nil. This was also the case in each of the last five years. All DEFRA PFI projects are treated as “off-balance sheet”.
The core Department is currently involved in one private finance initiative (PFI) project to provide office facilities at Brooklands Avenue, Cambridge. There are also two PFI projects being undertaken by the Environment Agency, one of our sponsored non-departmental public bodies.
Information about the value of annual PFI payments for the last five years, made by the core Department and the Environment Agency are set out in the following table. All payments were made from revenue budgets.
Organisation Project description Year Annual private finance initiative payments (£ million) Environment Agency Broadland Flood Alleviation Project 2002-03 1.90 2003-04 1.69 2004-05 1.52 2005-06 1.41 2006-07 11.38 Environment Agency Pevensey Bay Sea Defences 2002-03 1.43 2003-04 1.81 2004-05 1.87 2005-06 1.91 2006-07 11.96 DEFRA Office Facilities at Brooklands Avenue, Cambridge 2002-03 — 2003-04 — 2004-05 3.24 2005-06 3.73 2006-07 13.73 1 Estimate
The Department also provides support in the form of PFI credits to allow local authorities to enter into PFI contracts to provide waste recycling and management facilities. However, payments for these PFI projects are made by the relevant local authorities from their revenue budgets and do not fall within DEFRA's accounting boundary.
The core Department is currently involved in one private finance initiative (PFI) project to provide office facilities at Brooklands Avenue, Cambridge. There are also two PFI projects being undertaken by the Environment Agency, one of our sponsored non-departmental public bodies.
Information about the value of annual PFI payments, in the last five years, made by the core Department and the Environment Agency are set out in the following table.
All payments made under PFI are identifiable. Prior to a PFI contract being signed the profile of unitary charge payments is agreed between the contractor and the public sector, subject to the operation of the payment mechanism
Organisation Project description Year Annual private finance initiative payments (£ million) Environment Agency Broadland Flood Alleviation Project 2002-03 1.90 2003-04 1.69 2004-05 1.52 2005-06 1.41 2006-07 11.38 Environment Agency Pevensey Bay Sea Defences 2002-03 1.43 2003-04 1.81 2004-05 1.87 2005-06 1.91 2006-07 11.96 DEFRA Office Facilities at Brooklands Avenue, Cambridge 2002-03 — 2003-04 — 2004-05 3.24 2005-06 3.73 2006-07 13.73 1 Estimate.
The Department also provides support in the form of PFI credits to allow local authorities to enter into PFI contracts to provide waste recycling and management facilities. However, payments for these PFI projects are made by the relevant local authorities and do not fall within DEFRA's accounting boundary.
The core Department is engaged in one private finance initiative (PFI) project to provide office facilities at Brooklands Avenue, Cambridge. The Environment Agency, which is a non-departmental body of DEFRA, has let two public/private partnership contracts for flood risk management.
Information about the total value of annual PFI payments made by the core Department and the Environment Agency in the last five years is set out in the following table. These payments include both the repayment of the capital and expenditure on other parts of the PFI contract. Details of the breakdown of annual PFI payments into different elements is not held centrally and obtaining this information would incur disproportionate costs for the department.
Organisation Project description Year Annual private finance initiative payments (£ million) Environment Agency Broadland Flood Alleviation Project 2002-03 1.90 2003-04 1.69 2004-05 1.52 2005-06 1.41 2006-07 11.38 Environment Agency Pevensey Bay Sea Defences 2002-03 1.43 2003-04 1.81 2004-05 1.87 2005-06 1.91 2006-07 11.96 DEFRA Office Facilities at Brooklands Avenue, Cambridge 2002-03 — 2003-04 — 2004-05 3.24 2005-06 3.73 2006-07 13. 73 1 Estimate
The Department also provides support in the form of PFI credits to allow local authorities to enter into PFI contracts to provide waste recycling and management facilities. However, payments for these PFI projects are made by the relevant local authorities and do not fall within DEFRA’s accounting boundary.