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Meeting Date:
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11/13/2024 - 7:00 PM
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Category:
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Consent Agenda Items
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Type:
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Action
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Subject:
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Approval to Extend Four (4) Existing Maintenance Truck Leases with Vehicle Leasing Associates LLC for Twelve (12) Months
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Vision 2026:
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Operational Excellence Strategies 2 Maintain strong fiscal health of the organization.
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Background
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In April of 2019, The Board of Education approved a five-year truck vehicle lease for four new work trucks used by the Operations & Maintenance team for day-to-day operations. The lease was set to expire in October 2024.
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File Attachment:
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Summary:
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In mid-August 2024, Vehicle Leasing Associates LLC (VLA) approached CUSD 200 to discuss the end of the leases for the four maintenance vehicles in October 2024. Based on the existing lease to own agreement, VLA offered CUSD 200 the opportunity to purchase the four vehicles outright, at a total cost of $148,000. Administration reviewed the offer and determined that the value of an outright purchase of the four vehicles would not meet our financial goals. The facility team then looked for other purchasing options through state and federal purchasing cooperatives and could not find a program that was suitable for our current needs. CUSD 200 re-opened a communication with VLA in early October 2024, with VLA offering an extension of the current leases for a period of one or two years. CUSD 200 is recommending a one year extension, which will allow the administration team the opportunity to further explore options in the truck market and provide the Board of Education with an update in the summer of 2025. A copy of the lease extension for each vehicle is attached for your reference.
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Funding:
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Fund 20 - Operations and Maintenance Fund
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Board Policy
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Recommendation:
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It is recommended that the Board of Education approve the extension of the existing leases on four maintenance vehicles from Vehicle Leasing Associates LLC for the period of 12 months, beginning in October 2024. The total cost for the 12 month extension is $29,664.00
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Approvals:
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Recommended By:
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Signed By:
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Brian O'Keeffe - Asst Superintendent Business Services
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Signed By:
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Jeff Schuler - Superintendent
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Vote Results:
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| Original Motion | | Member Brad Paulsen Moved, Member Dave Long seconded to approve the Original motion 'It is recommended that the Board of Education approve the extension of the existing leases on four maintenance vehicles from Vehicle Leasing Associates LLC for the period of 12 months, beginning in October 2024. The total cost for the 12 month extension is $29,664.00'. Upon a Roll-Call Vote being taken, the vote was: Aye: 7 Nay: 0. | | The motion Carried 7 - 0 | | | | | Brad Paulsen | Yes | | Rob Hanlon | Yes | | Dave Long | Yes | | Angela Blatner | Yes | | Julie Kulovits | Yes | | Erik Hjerpe | Yes | | John Rutledge | Yes | |
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