Borrowing & Investments
Where applicable, we publish responses to requests under the Freedom of Information Act 2000. This one, Borrowing & Investments, is detailed below.
Other FOI's
WMFS OFFICIAL – NEW – FREEDOM OF INFORMATION REQUEST – FOI24078
Ref: FOI/24078
RE: FREEDOM OF INFORMATION ACT 2000 REQUEST
I am writing to confirm that the West Midlands Fire Service has now completed its search for the information you requested further to your Freedom of Information request.
Please find below a summary of our findings.
Request
According to the borrowing and investment live table, as of 31 December 2023, West Midlands Fire and Rescue Authority’s outstanding borrowing relating to loans from other local authorities was £1,476,000, and your investment in loans to other local authorities was £35,484,000. (Source: https://www.gov.uk/government/statistical-data-sets/live-tables-on-local-government-finance)
In regards to the above figures, I would like to know:
For each individual loan taken or given by the authority:
1. The local authority/lender/borrower name
Reply
Loan figure (£1,476k) West Midlands County Council administered by Dudley MBC.
Investment figure (£35,484k) total investment balance (cash) invested by Sandwell MBC on our behalf
Request
2. The amount advanced (the initial amount)
Reply
Loan – £5,829k
Investment – Sandwell invest our cash balances but there isn’t a fixed amount for this investment
Request
3. The outstanding balance as at 31/12/2023
Reply
See question 1 for balances.
Request
4. The interest rate
Reply
Loan – latest rate for 2023/24 5.478%.
Investment – Average investment rate via Sandwell MBC 5.19%
Request
5. The date the loan was agreed
Reply
Loan – 1st April 1986 for a period of 40 years
Investment – Sandwell invest our cash balances but there isn’t a fixed start date for this investment. The agreement for Sandwell MBC to provide Treasury management for WMFS is agreed annually.
Request
6. The loan start date
Reply
Please see above
Request
7. The agreed maturity date (the date on which the loan is set to end)
Reply
Loan – during 2025/26 financial year
Investment – n/a
If you have any queries about this Freedom of Information request, please contact us. Please remember to quote the reference number above in any future communications.
For service complaints, issues or comments regarding this request please contact The Public Relations Department, West Midlands Fire Service, 99 Vauxhall Road, Birmingham, B7 4HW
Further information concerning Freedom of Information requests can be found on the Information Commissioner website at either the following link: https://ico.org.uk/ or at Wycliffe House, Water Lane, Wilmslow, SK9 5AF.