SCHOOLS PPPs (PER BUNDLE) · Offaly 76105Q 550 2009 2010 2035 Macquarie Partnership Ltd 14.8 . Sub Total 59.5 Other Costs 1.2 Total 2,700 Total 60.7 Included in the SB1 capital

Annex 1 - OVERVIEW OF CONTRACTED PPP PROJECTS

SCHOOLS PPPs (PER BUNDLE)

School Bundle

School Name County Roll No Long Term Projected Enrolment

Commencement of Construction

Service Commencement

Bundle Contract End Date

PPP Co Capital Value per Financial Model ex VAT - €m

Pilots Ballincollig BCS

Cork 91386O 1000 2001 2002 2027 Schools Public/Private

Partnership (Ireland) Ltd

13.9

Dunmanway MICC

Cork 76086P 700 2001 2002 2027 Schools Public/Private


12.2

Tubbercurry SACS

Sligo 91512Q 675 2001 2002 2027 Schools Public/Private


12.8

St Caimin's CS Shannon

Clare 91447I 600 2001 2002 2027 Schools Public/Private


10.8

Largy College Clones

Monaghan 72171J 500 2001 2002 2027 Schools Public/Private


11

Sub total 60.7

Other Costs 3.0*

Total 3,475 Total 63.7

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PAC32-R-1154 A (ii) Meeting 22/03/2018


School Bundle

School Name County Roll Number

Long Term Projected Enrolment




PPP Company Capital Value per Financial

Model ex VAT - €m

Bundle 1

Gallen C.S Ferbane

Offaly 91515W 450 2009 2010 2035 Macquarie Partnership Ltd

12.8

St Mary's CBS Portlaoise

Laois 63430G 850 2009 2010 2035 Macquarie Partnership Ltd

11.9

Scoil Chriost Rí Portlaoise

Laois 63451O 850 2009 2010 2035 Macquarie Partnership Ltd

20.0

Colaiste na Sionna, Banagher

Offaly 76105Q 550 2009 2010 2035 Macquarie Partnership Ltd

14.8

Sub Total 59.5

Other Costs 1.2**

Total 2,700 Total 60.7

**Included in the SB1 capital costs above are figures for SPV running costs, FM costs and lifecycle costs during the construction phase.

School School Name County Roll Long Term Commencement Service Bundle PPP Company Capital Value


Bundle Number Projected Enrolment

of Construction Commencement Contract End Date

per Financial Model ex VAT

- €m

Bundle 2

Wicklow Town

Wicklow 76099B 1000 2010 2011 2036 Pymble Schools Designated Activity

Company

16.4

Scoil Ide agus Iosef Abbeyfeale

Limerick 76093M 850 2010 2011 2036 Pymble Schools Designated Activity

Company

14.6

Bantry CC Cork 76090G 700 2010 2011 2036 Pymble Schools Designated Activity

Company

15.6

Gaelscoil Bheanntraí

Cork 20001N 8 Classroom

Primary

2010 2011 2036 Pymble Schools Designated Activity

Company

3.6

Kildare Town Community School

Kildare 91530S 1000 2010 2011 2036 Pymble Schools Designated Activity

Company

15.2

Athboy Community School

Meath 91517D 950 2010 2011 2036 Pymble Schools Designated Activity

Company

15.8

Sub Total 81.2

Other Costs 0.5*

Total 4724 Total 81.7


School Bundle






PPP Company Capital Value per Financial Model ex VAT - €m

Bundle 3

Ballinamore Community School

Leitrim 91519H 400 2012 2014 2039 BAM 9.1

Colaiste Ailigh Letterkenny

Donegal 76081F 350 2012 2013 2038 BAM 9.3

Creagh College Gorey Co Wexford

Wexford 76127D 1000 2012 2014 2039 BAM 19.4

Merlin Woods Primary School Doughiska

Galway 20350P 16 Classroom Primary

2012 2014 2039 BAM 4.3

Merlin College Post primary School Doughiska

Galway 76096S 650 2012 2014 2039 BAM 10.6

Scoil naTrionoide Naofa Doon

Limerick 68121S

850

2012

2014

2039

BAM

15.2

Ard Scoil na Mara Tramore

Waterford 91520P 1000 2012 2014 2039 BAM 16.3

Athlone Community School

Westmeath 71410T 1000 2012 2014 2039 BAM 15.8

Total 100.0

Total 5698


School Bundle







Model ex VAT - €m

Bundle 4

St Joseph's SS Tulla

Clare 62020F 650 2014 2016 2041 BAM 14.2

Skibbereen CS

Cork 91516B 900 2014 2016 2041 BAM 18.2

St Mary's College, Dundalk

Louth 63890R 900 2014 2016 2041 BAM 16.1

Comeragh College, Carrick on Suir

Tipperary 72400V 500 2014 2016 2041 BAM 12.8

Total 61.3

Total 2950


School Bundle







Model ex VAT - €m

Bundle 5

Tyndall College

Carlow 70420R 1000 2016 TBC 2033 Inspired Spaces 16.3

Carlow IFE Carlow 76514K 1000 2016 TBC 2033 Inspired Spaces 16.1

Eureka Secondary School, Kells

Meath 64410F 800 2016 TBC 2033 Inspired Spaces 15.4

Colaiste Raithin, Bray

Wicklow 70821M

450

2016

TBC 2033 Inspired Spaces

11.6

Ravenswell Primary School, Bray

Wicklow 07246U 24 Classroom

Primary

2016 TBC 2033 Inspired Spaces 10.2

Loreto Secondary School

Wexford 63660A 900 2016 TBC 2033 Inspired Spaces 17.0

Total 86.6

Other Costs 4.3*

Total 4822 Total 90.9

*The category “other costs” relate to bundle-wide costs (i.e. capital costs incurred that did not necessarily relate to any particular school)


OPERATIONAL THIRD LEVEL PPPs

College Name




Contract End Date

PPP Company

Capital Value per Financial Model ex VAT - €m

CIT National Maritime College of Ireland

Cork Institute of Education

NA 750 2003 2004 2029 Focus Education

51.4

Cork School of Music

Cork Institute of Education

N/A 400 FT 2000PT

2005 2007 2032 CSM PPP Services

49.3

March 2018

Annex 2: Long Term Projected Enrolments (LTPE) against actual enrolment trends for all PPP school bundles

Schools Bundle 2002 2003 2004 2005 2006 2007 2008 2009 2010 2011 2012 2013 2014 2015 2016 2017 LTPE

Pilots 2751 * 2839 2854 2869 2827 2873 2914 2958 2982 2988 3066 2995 2997 2960 3017 3039 3475

Schools Bundle 1 1693* 1838 1990 2131 2269 2390 2604 2718 2774 2700

Schools Bundle 2 3269* 3257 3359 3503 3695 3787 3940 3941 4724

Schools Bundle 3 *3317 3987 4388 4805 5049 5698

Schools Bundle 4 2242* 2329 2468 2950

Schools Bundle 5 2962* 4822

Total

*Figures refer to enrolment numbers at pre- service commencement. Note some schools were an amalgamation of a number of schools.

* Schools Bundle 5 enrolment figures include enrolments for Carlow Institute of Further Education

March 2018

Annex 3: Summary of Unitary Charge payments and projected future commitments on education PPP projects (including VAT)

Project

name

Key project dates Expenditure

Date of Service

commencement

Contract

end

Pre 2017 2017 Future

commitment

Projected

total

expenditure Exp. Exp.

€m €m €m €m

Pilot PPP Schools Bundle

2002 2027 161.3 10.8 116.6 288.7

Schools Bundle 1

2010 2035 63.7 9.1 171.9 244.7

Schools Bundle 2

2011 2036 75.7 12.3 250.6 338.6

Schools Bundle 3

2014 2039 55.4 14.8 341.5 411.7

Schools Bundle 4

2016 2041 14.0 7.5 191.7 213.2

Schools Bundle 5

2018 2043 0 0 264.5

264.5

National Maritime College of Ireland

2004 2029 112.3 7.4 68.1 187.8

Cork School of Music

2007 2032 85.4 8.3 127.2 220.9

TOTAL PPP UNITARY CHARGE COMMITMENTS

567.80 70.20 1,532.10 2170.10

Note: Figures in the table above are fully inclusive of VAT – both VAT bullet payments on

construction and VAT on Unitary Charge payments

March 2018

Annex 4: Unitary Charge Projected Commitments on education PPP projects

Year

Pilot Bundle

€m

Bundle 1

€m

Bundle 2

€m

Bundle 3

€m

Bundle 4

€m

Bundle 5**

€m

National

Maritime

College of

Ireland

€m

Cork

School of

Music

€m

Total

€m

2018 10.90 9.13 12.54 14.99 7.59 5.36 7.47 8.34 76.32

2019 11.06 9.20 12.62 15.08 7.64 9.43 7.11 8.39 80.53

2020 11.22 9.27 12.71 15.16 7.69 9.49 6.99 8.43 80.96

2021 11.39 9.33 12.79 15.25 7.74 9.55 6.84 8.47 81.36

2022 11.56 9.40 12.87 15.33 7.79 9.61 6.66 8.52 81.74

2023 11.74 9.47 12.96 15.42 7.84 9.68 6.47 8.56 82.14

2024 11.91 9.54 13.04 15.50 7.90 9.74 6.27 8.61 82.51

2025 12.09 9.61 13.13 15.59 7.95 9.81 6.06 8.65 82.89

2026 12.27 9.68 13.22 15.68 8.00 9.87 5.10 8.70 82.52

2027 12.46 9.75 13.30 15.76 8.06 9.94 3.45 8.75 81.47

2028 9.82 13.39 15.85 8.11 10.00 3.41 8.79 69.37

2029 9.89 13.48 15.94 8.16 10.07 2.27 8.84 68.65

2030 9.96 13.57 16.03 8.22 10.13 8.89 66.80

2031 10.04 13.66 16.12 8.27 10.20 8.93 67.22

2032 10.11 13.75 16.21 8.33 10.27 6.29 64.96

2033 10.18 13.84 16.30 8.38 10.34 59.04

Annex 4: Unitary Charge Projected Commitments on education PPP projects

2034 10.26 13.93 16.39 8.44 10.40 59.42

2035 7.23 14.02 16.48 8.50 10.47 56.70

2036 11.76 16.57 8.55 10.54 47.42

2037 16.67 8.61 10.61 35.89

2038 16.76 8.67 10.68 36.11

2039 8.43 8.73 10.75 27.91

2040 8.79 10.82 19.61

2041 3.69 10.89 14.58

2042 10.97 10.97

2043 1.84 1.84

Total 116.60 171.87 250.58 341.51 191.65 251.46 68.10 127.16 1518.93

* Note: These projected commitments are inclusive of relevant VAT charges on UC payments

** Note: The Bundle 5 commitments assume service commencement of first school in bundle in May 2018. Once-off construction related VAT payment

expected to be made in 2018 is not included in this table

March 2018

Annex 5: Public Sector Benchmarks for Bundles 1-3

All figures presented in Net Present Value (NPV) terms and exclusive of VAT

School bundles SB1 €m SB2 €m SB3 €m

Year contract closed 2009 2010 2012

Public Sector Benchmark

Capital costs 55.5 91.4 76.9

Recurring costs 47.1 79.8 73.1

Risk costs 14.1 25.7 26.9

Special Needs Unit Addition 7.7

Total 124.4 196.9 176.9

Value for Money Headroom 17.4 47.5 13.4

Public Sector Benchmark (PSB) for PPP Schools Bundles 1, 2 and 3

The Public Service Benchmark is a key tool in the PPP procurement process and is prepared

in accordance with published Government guidelines before the issue of a PPP tender. It is

presented as a single monetary value that represents the full estimated cost, taking income

and risks into account, to the Department of Education and Skills (DoES) of delivering

projects using “traditional” public sector procurement. The PSB only includes the costs,

income and risks that the private sector will be invited to tender for in the PPP contract so

as to ensure a like for like comparison between a traditional procurement with a PPP

method of procurement. The PPP private partner is required to deliver and maintain to a

defined standard a facility together with a range of services (such as cleaning and building

maintenance) for 25 years post construction.

In the case of DoES related projects, the following components are included in the PSB:

Capital Costs: Capital costs are the upfront costs of providing a capital asset for the

project. This can mean either the costs associated with the construction of the

capital asset or the cost of the conversion/refurbishment of an existing capital asset

to meet the output specification.

Operating, Maintenance and/or Lifecycle Costs: Operating, maintenance and

lifecycle costs are the costs that are associated with the daily running of the capital

asset. They relate directly to the operation, maintenance and upkeep of the asset

and the provision of related services to meet the output specifications over the

contract period.

Risk Costs: Risk is inherent in the management of all projects and relates to the

possibility that more than one outcome could occur at any given point and that

these outcomes could impact, either positively or negatively, on the project in terms

Annex 5: Public Sector Benchmarks for Bundles 1-3

of overall cost, time or quality. In compiling the PSB, risk analysis is undertaken in

order to identify and quantify risks and to consider how best to allocate them

between the public and the private sector.

o Transferable risks are those risks for which the private sector will be asked to

tender. These risks are included in the PSB so that a like with like comparison

can be made between the highest ranking bid and the PSB. In PPP projects,

risk transfer is one of the key means of securing value for money.

o Shared risks are those risks for which responsibility is shared between the

Sponsoring Agency and the private sector partner; these risks are partly-

retained and partly-transferred. The value for a shared risk included in the

PSB is the proportion that will be transferred to the private sector partner.

The valuations used in the PSB represent the best estimate available, at the time of

compilation, of all of the costs, income and risks associated with a given PPP project. To take

full account of costs which occur at different points in time, the PSB is expressed in Net

Present Value (NPV) terms. When the present values of all of the project cash flows are

added together they are referred to as the Net Present Value (NPV) of the project. This is a

“bottom line” figure for the overall cost of the project, discounted back to a specified Base

Date. In the Value for Money Comparison, the NPV of the highest ranking bid is compared

against the PSB on a VAT-exclusive basis.

Annex 6: Deductions to UC payments 2013 -2017

2013 €

2014 €

2015 €

2016 €

2017 €

Total €

Pilots* 3,190.72 1,112.79 216.42 2,133.81 55,622.37 62,276.11

SB1* 2,598.69 975.45 599.04 24,564.85 29,078.84 57,816.87

SB2* 179,450.97 38,796.36 53,935.99 207,546.86 193,317.33 673,047.51

SB3* _ 6,685.26 26,142.68 65,621.31 20,256.15 118,705.40

SB4* _ _ _ _ 1,382.88 1,382.88

CSM _ _ _ _ _ _

NMC _ _ 1,863.69 593.44 111,547.61 114,004.74

Total 185,240.38 47,569.86 82,757.82 300,460.27 411,205.18 1,027,233.51

*It should be noted that the deduction for Pilots are charged two months after the deduction arise

(i.e. deductions arising in May will be charged in the July invoice)

**Deductions for Bundles 1, 2, 3 and 4 are charged 1 month after they arise (i.e. deductions arising

in May will be charged in the June invoice)

March 2018

Annex 7: Summary of Variations per Bundle

Summary of variations per bundle

Bundle

No. of

variati

ons

2013-

2017

Cost per

Bundle 2013

€

Cost per

Bundle

2014

€

Cost per

Bundle

2015

€

Cost per

Bundle

2016

€

Cost per

Bundle

2017

€

Total Cost

per Bundle

2013-2017

€

Pilots

Schools 15 50,938.95 33,852.53 30,629.63 10,160.04 33,883.78 159,464.93

Schools

Bundle

1

8 8,268.23 8,452.15 8,578.78 719.04 0 26,018.20

Schools

Bundle

2

23 30,790.84 21,666.23 283,644.30 622,406.60 11,590.27 970,098.24

Schools

Bundle

3

26 1,323,176.80 1,266,872 6,966.93 37,794.00 282,839.91 2,917,649.64

Schools

Bundle

4

2

N/A

N/A

N/A 0 2,541.5 2,541.50

Examples of the more significant variations include:

- €1.6m for the addition of a Special Needs Unit in Doughiska, Galway (Bundle 3)

- €904k on fit-outs of Special Needs Units in Abbeyfeale, Kildare and Wicklow (all Bundle 2)

- €242k for design work and obtaining statutory consents and planning for an extension in Tramore

(Bundle 3)

- Some Variations have been cost neutral for the Authority e.g. installation of work benches, slight

room modifications

March 2018

Annex 8: Summary of Third Party Income 2014-2017

Summary of Third Party Income in PPP Schools/CIT (figures in €)

Pilots €

Bundle1 €

Bundle 2 €

Bundle 3 €

Bundle 4 €

NMCI €

CSM €

Total €

2014-2015

3,165.00 0.00 0.00 0.00 0.00 18,486.92 45,133.26 66,785.18

2015-2016

5,150.00 0.00 0.00 7,443.02 0.00 22,603.50 45,105.27 80,301.79

2016-2017

0.00 0.00 400.00 10,001.16 2,841.26 13,836.60 45,217.20 72,296.22

Total 8,315.00 0.00 400.00 17,444.18 2,841.26 54,927,02 135,455.73 219,383.19

*Note: Table above shows total Third Party Income received after PPP costs are taken into account.

That income is generally shared 50-50 between PPP Co and the School/CIT. However, in the case of

the Cork School of Music, the sum relates to guaranteed payments to CIT.

March 2018

Documents

SCHOOLS PPPs (PER BUNDLE) · Offaly 76105Q 550 2009 2010 2035 Macquarie Partnership Ltd 14.8 . Sub Total 59.5 Other Costs 1.2** Total 2,700 Total 60.7 **Included in the SB1 capital

SCHOOLS PPPs (PER BUNDLE) · Offaly 76105Q 550 2009 2010 2035 Macquarie Partnership Ltd 14.8 . Sub Total 59.5 Other Costs 1.2 Total 2,700 Total 60.7 Included in the SB1 capital