Exciting times ahead! Schools can now acquire essential equipment through lease finance, thanks to new accounting rules and funding options that make leasing more accessible than ever for local authority-funded schools.
We’re thrilled to announce that these new rules will empower schools with the ability to finance equipment without the administrative burden, ensuring that they can deliver top-quality education while also managing their budgets efficiently.
Leasing Equipment for Schools
Thanks to the Department for Education‘s (DfE) pre-approved list of commonly used assets, schools can now lease a wide range of essential educational equipment. This change allows schools to finance equipment without requiring consent from the DfE. It’s a hassle-free solution designed to support the smooth operation of educational institutions.
But what exactly can local authority-funded schools lease under the DfE’s guidance? The possibilities are endless, and schools can lease anything from IT equipment to catering supplies, all designed to help run the school effectively.
What Can Schools Lease?
Under the new guidelines, schools have the opportunity to lease a variety of necessary assets that will help improve day-to-day operations and enhance the learning environment. The key categories for leasing include:
- IT equipment: whiteboards, touch screens, computers, laptops, tablets, photocopiers, printers, servers, door entry systems, CCTV systems.
- Telephony equipment: mobile phones, landline phones, and telephone systems.
- Catering and cleaning equipment: ovens, fridges, freezers, tills, water coolers, vending machines, dishwashers, washing machines, water boilers, small kitchen appliances, crockery, and 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 school use.
- Temporary classrooms and equivalent structures.
- LED lighting, where sourced with DfE support or through a DfE-recommended framework.
When Can Schools Start Leasing?
Starting from April 2024, local authority-funded schools will have the opportunity to benefit from finance leasing options for the prescribed equipment. Academies can follow suit starting September 1st, 2024. This gives schools the flexibility to secure the equipment they need while spreading the cost over a set period, ensuring that they can budget effectively.
Why Choose Leasing?
Leasing provides schools with several benefits that purchasing outright simply can’t match. Here’s why lease financing is an ideal choice for many educational institutions:
- Fixed-term leases for added stability.
- Flexible terms ranging from 2 to 5 years, giving schools the ability to adjust based on their needs.
- Convenient repayment options: Monthly via Direct Debit or invoice quarterly or annually.
- Authorization process: Head Teacher-authorized signatories, with advances over £25k requiring dual signature with the Business Manager.
Leasing offers predictable monthly payments that help schools plan their budgets better, without the worry of unexpected costs. With fixed lease terms, schools can maintain financial stability and focus on delivering outstanding educational outcomes.
How Can Johnson Reed Help?
At Johnson Reed, we are passionate about supporting schools in providing quality education. We offer tailored leasing solutions designed to help schools access essential equipment hassle-free. Our commitment is to ensure that schools can easily obtain the resources they need to deliver an exceptional learning experience for their students.
For more information about how Johnson Reed can assist schools with their leasing needs, visit our Leasing Solutions page.
Full Details from the DfE
For full details on the Department for Education’s leasing guidelines, you can read the complete information directly from their official website. This resource will provide you with all the specifics on eligibility, approved assets, and how to apply for lease financing for your school.
The Future of School Equipment Leasing
With the new leasing guidelines, schools can invest in much-needed equipment without the constraints of upfront costs. These changes offer a chance to update technology and improve the learning environment across the country. As a result, local authority-funded schools will have the tools they need to remain competitive and deliver the best education possible to their students.
Leasing allows schools to access modern IT equipment, furniture, and facilities, all while maintaining financial flexibility. By utilizing tailored leasing options, schools can focus more on their educational mission, rather than worrying about procurement.
Starting April 2024, local authority-funded schools can enjoy these benefits, and academies will follow suit in September. Take advantage of this opportunity to equip your school for the future while managing your finances effectively.
