3052 Leasing Personal Property

3052 Leasing Personal Property

I. Leases of Personal Property by the District

A. Applicability of this policy.

Leases of personal property using any federal funds, whether those funds are derived directly from the federal government (e.g. award of a federal grant) or are derived by pass-through awards from the Nebraska Department of Education (e.g. special education funds, school lunch funds, Title I funds) are subject to the policy on Purchasing and Procurement with Federal Funds, which is found elsewhere in this section.

This policy applies to all other leases of personal property made by the school district other than construction, remodeling, repair and site improvements.

B. General Leasing Policy

  1. The school district’s budget shall be the guide for all leases of personal property. Any leases of personal property must be approved by the board or superintendent.

  2. The board intends to lease competitively, whenever possible, without prejudice and to seek maximum educational value for every dollar expended.

  3. The leasing of equipment and other goods shall be centralized in the administration office under the supervision of the superintendent of schools, who shall be responsible for developing and administering the leasing program of the school district.

  4. Leases of personal property or commitments of district funds that are not authorized by this policy will be the responsibility of the person making the commitment.

  5. No board member, employee, volunteer, parent-teacher organization, or other individual or entity may use a school district account, its tax identification number, or its tax exemption to make personal leases of any kind or for any reason.

C. Leasing Procedures

  1. School personnel must secure the approval of the board or superintendent before entering into a lease for personal property.

  2. For lease of more than $5000.00, the district will secure written quotes and/or estimates from a reasonable number of vendors. The district will lease from a responsible vendor with the lowest price unless the board approves the lease from the more expensive vendor.

D. Relations with Vendors

  1. The board wishes to maintain good working relations with vendors who lease equipment, goods, and other personal property to the school system. The school shall not extend favoritism to any vendors. Each lease shall be entered into on the basis of quality, price and delivery, with past experiences being a factor if all other considerations are equal.

  2. No lease shall be made that violates any conflict of interest policy or law.

  3. The board believes in patronizing local businesses. Consequently, when proposals are judged to be equal in terms of quality, price, and/or service, the lease will be awarded to the firm that is located within the district. However, the board will not sacrifice either quality or economy to patronize local businesses.

II. Lease of District-Owned Personal Property to Others

A. Personal Property Valued at No More Than $1000.00

If the Superintendent determines that any personal property that is owned by the school district and has a fair market value of no more than $1000.00 is not needed for school district use, the Superintendent may enter into a lease agreement for a period no longer than the period of time during which such property is not needed for school purposes and in no event longer than 7 days. The Superintendent is authorized to determine the terms and conditions of the lease of this district-owned personal

property, provided however that Superintendent will avoid leasing such personal property at a rate that is significantly lower than the fair market value for comparable rentals of similar personal property. At Superintendent’s discretion, Superintendent may require lessors of this district-owned personal property to furnish property and liability insurance covering lessors use of such property.

B. Personal Property Valued in Excess of $1000.00

If the board of education determines that any personal property that is owned by the school district and has a fair market value of at least $1000.00 is not needed for school district use, the board may lease such property, or portion thereof, upon such terms and conditions as it determines.

Adopted on: July 8, 2019
Revised on: _________________________
Reviewed on: ________________________