Exciting times ahead! Schools can now acquire equipment through lease finance!
We’re thrilled to introduce new accounting rules that open up leasing options tailored specifically for local authority-funded schools. Leasing isn’t just a game-changer; it’s the key to unlocking the equipment and facilities needed to deliver top-notch education.
Thanks to the Department for Education’s (DfE) pre-approved list of commonly used assets, schools can now finance essential equipment without the administrative hassle or the need for consent from the DfE.
But what exactly can local authority-funded schools lease under the DfE’s guidance? The possibilities are endless:
- IT equipment: whiteboards, touch screens, computers, laptops, tablets, photocopiers, printers, servers, door entry systems, CCTV systems
- Telephony: mobile phones, landline phones, telephone systems
- Catering and cleaning equipment: ovens, fridges, freezers, tills, water coolers, vending machines, dishwashers, washing machines, water boilers, small kitchen appliances, crockery, cutlery
- Furniture: desks, tables, chairs
- Bathroom/sanitary items: hand dryers, towel dispensers, sanitary bins
- Gym equipment: treadmills, free weights, weight machines, rowing machines, exercise bikes
- Groundskeeping equipment: lawn mowers, string trimmers, leaf blowers, salt spreaders
- Minibuses and other vehicles for use of the school
- Temporary classrooms and equivalent structures
- LED lighting where sourced with DfE support or through a DfE recommended framework
Starting April 2024, local authority-funded schools can seize the opportunity to benefit from finance leasing options for prescribed equipment. Academies can hop on board starting September 1st, 2024.
Here’s what sets our leasing options apart:
- Fixed-term lease for stability.
- Flexible terms ranging from 2 to 5 years.
- Convenient repayment options: monthly via Direct Debit or invoice quarterly or annually.
- Head Teacher-authorized signatories, with advances over £25k requiring dual signature with the Business Manager.
At Johnson Reed, we’re passionate about supporting schools in providing quality education. With our tailored leasing solutions, schools can access essential equipment hassle-free, empowering them to focus on shaping the minds of tomorrow’s leaders.
Full details from the DfE can be found here.