By Joanna Frost
15th Apr 2019
The ESFA’s new guidance for academy financial management includes a good practice guide on leasing arrangements, suggesting that leasing can be a great way for schools to secure the equipment (and facilities) they need to provide students with a first-class education. The guidance highlights the importance of dealing with reputable leasing companies - this is where the DfE recommended CPC Leasing Services Framework can help. The framework is designed specifically for schools, academies and colleges and provides you with access to leasing suppliers that have had their financial standing, business practices and expertise assessed, making the due diligence process suggested by the ESFA much easier!
The ESFA guidance echo’s our own in that it's advisable to shop around, as the most competitive quotes for purchasing the equipment might come from a supplier that does not offer leasing or is unable to offer the most competitive leasing arrangement. It’s also key to understand the costs of a lease, what type of lease you are entering into and what happens at the end of the lease arrangement. The ESFA guidance provides some useful information in relation to what might be the right type of lease for your institution but you can also engage with the CPC leasing framework suppliers who would be happy to answer queries before you send out a request for lease quotation.
Visit the CPC Leasing Services Framework page to view the suppliers, download the user guide and access the quote tools for a no obligation quotation.