Leasing can be an option for schools in a number of situations, where an outright purchase is considered to be undesirable.
If proposing to enter into leases, schools should remember that many leases are defined as borrowing, and are thus outside their powers. The council has an approved leasing provider in place which schools are advised to use (see Annex X of the Schools Finance Manual for further information).
This is in addition to complying with the requirements of the Schools Procurement Standing Orders as regards seeking multiple quotations and tendering.
Schools must still satisfy themselves that a proposed lease offers value for money (even if it is through the council approved leasing provider). Schools should also carefully consider the whole life cost of a lease, and compare it with the cost of buying outright, and of buying any services separately, taking account of any discounts to which they might be entitled.
Find out more about Schools finance and funding.