L E A S I N G


EducaTiON spENdiNg in England could be cut by as much as 25%over the next four years according to a recent statement by


chancellorgeorge Osborne. As well as the pressure on


teachers’ pay many school administrators and business managers will be forced to seriously downgrade their capital spending in order to remain within their meager budgets. As a result, more and more


schools are turning to leasing arrangements when it comes to investing in new assets and equipment – especially ICT. Earlier this year the Department for Education signed up to the Financing & LeasingAssociation (FLA) to develop an equipment leasing framework for schools. The move is intended to help


schools continue to invest in technology even as capital funding declines. By leasing equipment, rather than buying it, schools can spread the cost and get the best out of their budgets. Nor does it stop at ICT


equipment, says Phillip Bennett, chief executive of Bluestone Leasing, the UK’s leading independent leasing company which specialises in education. He told Technology in


Education: “Increasingly, we are being approached by a number of schools and colleges seeking to replace laboratory equipment, machinery for resistant materials courses, gym equipment, school lockers, office equipment and even school fit-outs.


Logical solution “Leasing is the logical solution


for many cash-strapped schools and local education authorities which are looking to maintain investment levels and the high standards they deliver. “By leasing, the school benefits


from immediate access to the latest equipment, greater economies of scale through the volume they purchase and a rolling programme of investment that allows the school to benefit from a ‘teaching technology refresh’, upgrading equipment quickly and easily by extending the lease term. “If you are considering using leasing, look for companies that


A new S+B STEMclassroom. This could be the subject of leasing.


Despite the cuts, schools can still invest in new


equipment with the aid of leasing


understand the education sector. All schools are different and a good leasing company will recognise that. They should also understand the school timetable and be able to work around your term times – it’s a small consideration but many external companies never consider this.” Steve Russell, sales director at


Bluestone Leasing, said: “As schools enter the 2011/2012 funding year, some will have to make radical changes to allow for the reduction in capital funding and, for many, this will be hard and the temptation will be to stop spending. “However, there are ways and


means to manage this difficult situation such as deferring payments in line with your next budget release which will give you a year’s grace as you get used to the cuts while still being able to replace the kit you need. This allows schools to have the solutions they need when they need them, without having to wait for budgets to kick in.When you do start paying, as it’s on a monthly rental lease, payments will be more manageable.


Technology in Education No.185 September 2011 36 “Schools are very focused on


compliant leasing and most schools have to use the operating lease route to comply with the local authority regulations.At Bluestone we can ensure our finance solutions meet your criteria.”


Useful guide The NationalAssociation of


School BusinessManagement (NASBM) has recently woken up to the benefits of leasing and has teamed up with the Finance and LeasingAssociation (FLA) and the Department for Education to produce a guide, named Tips for Successful Leasing in Schools. The guide gives schools a useful


checklist that will help them to avoid the many pitfalls when entering into a lease agreement. Steve Russell said: “The issues


schools currently face include not fully appreciating how to specify the terms of their agreements, not checking the terms and conditions or understanding that a previous balance would be rolled over and not written off. “With a number of schools


reporting these issues to NASBM


the guide was created to help schools identify the areas in the lease agreement to check and help combat this problem.As a company, we are committed to ethical leasing and work closely with schools and LEAs to ensure they understand exactly how the agreement works, what they are entering into and what they will get out of it.” The guide is available to schools


via the NASBMwebsite and will also be available to download from the FLAand Department of Education websites. Alack of budget can hamper


and restrict a school’s acquisition of much needed equipment. In this present tough financial climate, when education budgets are being very closely monitored and even cut, schools can check to see if they are receiving real value for money. Steve Russell added: “Our


education and school equipment leasing packages are totally flexible.We can offer education and school equipment leasing solutions that include upgrades of hardware and software at any time during the lease period. This includes all peripherals, cabling, and installation. This saves you money and administrative time. “Meanwhile, if you have


purchased equipment, we can even arrange a sale and leaseback solution to your school, freeing up valuable capital for you to plough back into other projects.” FOOTNOTE: Trading since 1996, Bluestone


Leasing is one of the UK's largest independent leasing companies and a specialist provider of financing solutions for professional, private and public sector organisations throughout the UK. The company works with more


than 1,200 vendors, 3,500 customers and it works with more than 20 finance houses and can finance transactions worth many millions down to as little as £1,000. It also specialises in technology


focused asset funding including IT, telecommunications, audiovisual and furniture. Bluestone also has significant expertise in financing entire projects.


Circle No.E22 Check out our website: www.technology-in-education.co.uk


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