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ACADEMIES

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Academies have access to more flexible finance leases

Academy Trusts have far more flexibility when it comes to leasing for certain purchases.

Where you are looking for finance (operating or a finance lease), you no longer need to seek approval from the Secretary of State for consent where a finance lease is covered in the list below

What the changes mean for academy trusts. The following assets have been granted prior consent by the Secretary of State for Education: all existing leases in place before 1 September 2024 for items included in this list leases related to IT equipment (for example laptops, tablets, desktop computers, printers, photocopiers, servers, door entry security systems, CCTV Systems, whiteboards and touch screen boards) leases related to telephony (for example mobile phones, landline phones and telephone systems) leases related to catering and cleaning equipment (for example tills, water coolers, vending machines, dishwashers, washing machines, ovens, fridges, freezers, water boilers, small kitchen appliances, crockery and cutlery) leases related to furniture (for example desks, tables and chairs) leases related to bathroom and sanitary items (for example hand dryers, towel dispensers, sanitary bins) leases related to gym equipment (for example treadmills, free weights and weight machines, rowing machines and exercise bikes) leases related to groundskeeping equipment (for example lawn mowers, string trimmers, leaf blowers and salt spreaders) leases related to LED lighting systems or to support renewable activity (for example lightbulbs, control mechanisms and control panels) - consent is granted where the product has been sourced with support from the Department for Education through Get help buying for schools or from a recommended route on the Find a framework website leases related to minibuses and other vehicles for the use of the school leases related to temporary classrooms and equivalent structures (but not land leases they sit on, which may require separate consent – see school land transactions guidance on the DfE web site)

To ensure you are receiving value for money, we will search our providers of finance for the right funding for you. All you need to do is provide us with the quotation for the equipment you are looking to fund and we will provide you with finance quotes over a choice of terms up to the life of the asset ensuring you spread the cost across the funding periods that it will be used as opposed to a large capital outlay at the point of purchase.

To get indicative finance figures, please complete the brief form:

The DfE guidance is available here

 

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