Definition of Leasing
A leasing arrangement is a contract, extending beyond the period of one financial year, purely for the finance of an asset. The asset cannot, by whatever means, become the property of the School (the Lessee). The installment payments made under these arrangements are known as Rental Payments.
What to do about leasing
Advice about leasing must be sought from the Council's appointed lease advisor, Unilink Finance. The information sheet below gives you contact details for Unilink and explains how they can help you to make informed decisions about leasing. Unilink were appointed following a formal tender, therefore when a school follows Unilink's advice, the school is complying with Doncaster Schools Financial Regulations, which call for schools to obtain the approval of the Head of Financial Services before entering into any leasing arrangement.
Contacts at Unilink are Andrew Moss (tel.0870749 5544) and Phil Harrison (tel.0870 749 5549). You can email them for advice at schools@unilinkfinance.co.uk
Letter to Schools - October 2007
A letter was sent out to all schools in October 2007, outlining the process for seeking advice on leasing issues. This letter can be found here.
Investec Leasing Brochure
In October 2007 all schools were sent a brochure by Unilink giving details of the leasing service and the rates offered by their associated leasing company, Investec Asset Finance. This brochure can be found here.
Current Leasing Rates
Operating Lease Rates for Education Clients effective from 2nd June 2008 can be viewed from the document below:
