The Council currently has an overall provision of £56m within its 2022-27 Provisional Capital Budget to support the development of the campus, but councillors have now been asked whether or not to proceed with the project given the final costs increase.
The funding proposal for the project has been revised and means no increased borrowing for the Council’s Capital Plan.
It does include a proposal from Scottish Government Funding and Scottish Futures Trust to increase its notional funding by 11% 1 .
Confirmation of this final funding award, which pending but this is now anticipated to total £28.67m (£24.57m originally awarded, plus £1.17m uplift per Report 152/22, plus £2.93m further uplift per this Report).
Commenting on the new figures, Angus Council Leader, Cllr Beth Whiteside said: “We were aware that there would be a significant increase in costs since the March committee. However, many of us feared it would be higher increase.
"I would like to pay tribute to officers for their hard work and diligence to successfully keep costs down as much as they have. This new school is really essential, as the current buildings are really not fit for purpose now, and definitely not for the future. So we remain committed to the project, recognising that this will impact on spending elsewhere.”
Education Convener, Cllr Lynne Devine added: “The designs for this new school are very exciting and will provide excellent facilities for both the staff, pupils and the community in Monifieth.
" We are committed to continually raising educational standards and this includes managing our school estate.
"Where better to invest our funds than in our young people who are the future of Angus?”
The Scottish Government will provide revenue funding to support their portion of the funding over a 25-year period.