TITLE:title
Resolution - Union County Public Schools (UCPS) Laptop Loan
body
INFORMATION CONTACT:
Beverly Liles, Finance, Director, 704-283-3675
ACTION REQUESTED:
Adopt Laptop Loan Resolution Authorizing a Continuing Contract Between Union County Board of Education and First Citizens Bank and Trust Company for the Installment Loan of Student Chromebooks.
PRIOR BOARD ACTIONS:
None.
BACKGROUND:
UCPS uses laptops for teachers and administration staff and requests a renewal for laptop loans for the next five years.
UCPS has requested to enter an Installment Loan with First Citizens for laptops from Lenova, requiring payments from July 1, 2025, through May 30, 2030 not to exceed $857,524.59 per year, with a total contract amount of $4,287,622.95.
UCPS request each year during the annual budget process the required payments as part of their operating capital improvement plan (CIP) request.
FINANCIAL IMPACT:
Future year payments will be requested as part of the annual operating capital budget request from UCPS for a total funding impact of $4,287,622.95 over a five-year period.