UPDATED 09:30

CHRIST the King College has today (Tuesday) denied the decision to lease its sixth form block was 'ill judged'.

The governing body has released a statement saying the decision was taken with the approval of the Isle of Wight Council.

It follows an announcement by the council that it would not provide the school with any more money after it racked up a £2.7 million debt.

The statement said: "The governing body of Christ the King College are disappointed to read the statement given on behalf of the Isle of Wight Council regarding the funding of the sixth form block. We totally refute the Isle of Wight Council's view that the decision to lease the building was ill-judged and was undertaken without the approval of the council. The governing body was only able to enter this agreement with the express permission of the Isle of Wight Council who, along with both dioceses, supported the establishing of an 11-18 school to contribute to the raising of standards across the Island and to provide families with choice and diversity.

"The extract below confirms the local authority had full knowledge, provided support for the lease agreement and needs to share responsibility for this situation:

"The council approves the entry into the hire contract by the governing body and agrees that the same will not cause the governing body to be in breach of any restrictions or obligations stated in the Scheme for Financing Schools or exceed any limitations on the powers of the governing body stated in the Schools and Standards Framework Act 1998."

Extract from a letter from Steve Beynon, chief executive of the Isle of Wight Council, addressed to the principal of Christ the King College, February 14, 2013.

"Christ the King College has suffered historically from a significant lack of financial support during our growth, and we have repeatedly and consistently requested capital support and financial help that we know has been given to other schools. We note that Cllr Stewart refers to responsible use of tax payers' money and, as a governing body, it is important to state that all our revenue funds are spent on our students and their education and not, as the council wishes us to do, spend on a building we believe should have been provided for our community.

"We also completely refute the council's view that we are not taking responsibility to find a solution. The governing body has been, and continues, to work relentlessly to resolve this issue.

"We are pleased that the Isle of Wight Council recognises that the school is high-attaining and that the day-to-day management is perfectly sound. We would add to this that the Isle of Wight Council has facilitated more than one meticulous audit of our finances, all carried out by Price Waterhouse Cooper, and there is absolutely no evidence of any financial mismanagement.

"On the contrary, the current deficit is solely attributable to the annual capital cost of the sixth form building and the lease which was entered knowingly and in good faith by all involved in the setting up of the school.

"We hope that the Island community will share our view that our young people deserve to have their educational facilities provided for them and should not have to bear the cost themselves from the revenue which should be spent on resources and teachers. In the meantime, we will continue to support the leadership of the college in providing the very best education that they can for our students, and we wish to reassure parents, staff and students that their education with us continues to be secure."

*THE Isle of Wight Council has reiterated it did not endorse Christ the King's decision to enter into a lease agreement, despite the school's claims to the contrary.

In a statement, the council said: "The council was aware the governing body was entering into the lease agreement, it was asked by the school to provide a letter to give to the hire company to show that the school was not in breach of any restrictions in the Schools and Standards Framework Act 1998 – which it did. At no point in the letter did the council endorse the school’s plans, nor say that it was a good idea.

"In response to Christ the King’s point about establishing an 11-18 school, the drive for the change in age range came from the school. The governing body and the dioceses complied fully with the legal requirements and Department for Education guidance in promoting the change and there was no clear reason for the council to refuse their request.

"Christ the King College has been treated the same as all other schools on the Island with regards to funding. It is correct that the school has requested capital support in the past and this has been given where it is fair and correct to do so in line with council policy.

"Finally, the recent Price Waterhouse Coopers audit was critical of the governing body and the way they approached the lease arrangements. They were clear that the school entered into the agreement with no proper business case considered by the governors. The school were also issued with a notice of financial concern in May, 2016."