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[null,"Lease vs. Buy "]
[null,"Please read the information in this worksheet to best support your decision to Lease vs. Buy, and to ensure best use of this model"]
[null,"Tool Purpose: complete the 'Lease vs. Buy' worksheet (which considers and compares costs over time) and then consider the results of this calculation in combination with the 'Considerations/Checklist' found below to inform a lease vs buy decision."]
[null,"The Lease vs. Buy decision is not always straightforward; it requires analysis to determine the best outcome for your school"]
[null,"Contact your local School Finance Advisor if you require any advice or support to complete your analysis. Some useful links have been included below"]
[]
[null,"Making a decision on whether to Lease vs. Buy - 'Considerations/Checklist'"]
[null,"Weigh the advantages and disadvantages of a Lease vs. Buy approach specific to your school's circumstances across the life of the lease"]
[null,"Some Potential Advantages of Leasing","Some Potential Disadvantages of Leasing"]
[null,"Obtaining Quality Assets in a Cash flow Friendly way that may have been unaffordable otherwise, as the cost of a lease is spread over several year and therefore a significant cash outlay is not required.","Regular lease expense: lease payments are treated as expenses rather than as equity payments towards an asset. Short term lower lease costs, as opposed to a buy now decision, are likely to result in a higher overall cost in the long run."]
[null,"Guaranteed service: many leases have built in levels of service so if something goes wrong you can have it repaired and operational again quickly.","Increasing of Debt within the school: leases are considered to be debt and you may risk exceeding the 10% borrowing threshold."]
[null,"No risk of obsolescence: where there is a high risk of technology becoming obsolete, leasing can save a school from the risk of investing in a technology that might soon become out-dated.","No Ownership at the end of the leasing period: you do not end up becoming the owner of the asset, even though you have paid more than the value of the asset in many cases."]
[null,"Flexibility:  leases are especially useful when you want to purchase a piece of equipment that you’re not 100 percent certain you will need long term. ","Asset maintenance: like all assets you are still required to meet the maintenance requirements to keep the asset in good working order"]
[null,"You should refer to FISH Section 2.4.8 'Large or long-term financial commitments' before committing to buying a new asset or entering into a leasing arrangement"]
[null,"Ensure you have sought competitive pricing for both the buy and lease options through quotes from multiple vendors or lessors"]
[null,"Schools should consider buying through the All-of-Government contracting service - Returning average savings of 15% savings per contract*"]
[null,"Schools cannot exceed their borrowing limit (which includes Finance leasing principal and interest repayments) of 10% of operational funding - noting an exception can be sought, but must be obtained in advance [Refer to FISH section 2.4.5 'Borrowing decisions']"]
[null,"Lease terms and conditions can contain onerous clauses e.g. onerous rights of entry, early termination fees (penalties ), etc.  Check all clauses and factor the implications into your decision making. Understand what you are legally committing to."]
[null,"Asset Management Policy - the school should consider the decision relative to the school's asset management policy and with consideration to their current and future long term borrowings, relative to the terms of the lease, i.e. the school needs to be able to manage it's ongoing cash flow position in choosing to buy or lease a new asset(s)"]
[null,"Do you have details of the different elements of the lease i.e. What is the equipment lease cost versus the servicing arrangements cost?, What is the finance rate (interest rate)?, What would it cost to buy the equipment outright? Are you leasing this equipment through a standard monthly fee or a usage rate?, Is this annually adjusted for the Consumer Price Index (CPI)? "]
[null,"What is covered by the servicing element? Are there additional charges to IT Support to ensure this equipment operates within our current systems. "]
[null,"The decision to enter a Leasing Agreement or to Buy an asset must be made in accordance with the schools delegation authority policy"]
[null,"Am I the right person to be entering this contract? Do I have the authority to do so? If you are not the Board of Trustees Chairperson do you have the delegated authority to enter into a legally binding contract?  "]
[null,"*MBIE presentation citing Schools may achieve savings up to this level. Savings calculated on average school spend, based on 2017/18 data.\n"]
[]
[null,"Useful Links"]
[null,"All-of- Government Contracts Website ","http://education.govt.nz/school/running-a-school/all-of-government-contracts/"]
[null,"All-of- Government Contracts Email Support ","procurement@mbie.govt.nz"]
[null,"Financial Information for Schools Handbook (FISH)","http://www.education.govt.nz/assets/Documents/School/Running-a-school/Financial-Information-for-Schools-Handbook/Financial-Information-for-Schools-Handbook2018.pdf"]
[null,"IRD Useful Life Of Assets\nCommon Depreciation rates for schools and kura\n- Laptop Computers - 4 years \n- Photocopiers - 5 years\n- Motor Vehicles - 5 years","https://www.ird.govt.nz/income-tax/income-tax-for-businesses-and-organisations/types-of-business-expenses/depreciation/claiming-depreciation/work-out-straight-line-depreciation"]
[null,"Link to Financial Advisors (navigate to bottom of the link)","https://www.education.govt.nz/school/funding-and-financials/school-finances/"]
[]
[null,"How to use this Model"]
[null,"Input data into the yellow cells only in the 'Lease vs. Buy' worksheet (noting the specific guidance below)."]
[null,"Once you have entered data for one option, you can save this into the Option worksheets (hover and click on the 'Save as Option' # on the Lease vs. Buy worksheet) and then repeat the input process for a second option by clicking the 'Clear Form' button and saving your results."]
[null,"The 'Inputs Result' cell is predicated on the lease being a finance lease. All leases for laptops (TELA) IT Equipment and photocopiers are considered to be finance leases under the accounting standards. Refer to section 4.5.5 of FISH for guidance on 'finance leases' including operating leases"]
[null,"The Graph and the Buying & Leasing tables in the 'Lease vs. Buy' worksheet provide a detailed breakdown of the model's outputs to support your Lease vs. Buy decision"]
[null,"The information required to compete most of this tool is included in the lease contracts you have signed or proposals you are assessing.  Where you are unable to input information based on these documents, it is recommended you engage with further discussion with the lease provider, or contact your local School Financial Advisor.   "]
[null,"All numbers entered in the input section should be exclusive of GST"]
[null,"Note: Clicking the 'Clear Form' data will clear out any input data"]
[]
[null,"What if I don’t have a monthly lease cost and my agreement is based on target or expected volumes?"]
[null,"This situation is very similar to a monthly lease cost but there is a need for additional calculations to be performed based on the information contained in the agreement, to determine the monthly cost of the lease so that the use of this tool can assist in your decision making."]
[]
[null,null,null,"Enter data in the Yellow shaded cells"]
[null,"The calculation below is designed to assist you complete this calculation:",null,null,null,"Example"]
[null,null,"Annual Calculation","Monthly Calculation",null,"Annual","Monthly"]
[null,"If a photocopier, use the following calculation"]
[null,"Black & White Copies ",{"$f":"D49*12","v":0},0,null,1800000,150000]
[null,"Black & White Copy Charge ($)",{"$f":"D50","v":0},0,null,2.8000000000000001E-2,2.8000000000000001E-2]
[null,"Black & White Service Charge ($)*",{"$f":"D51","v":0},0,null,7.0000000000000001E-3,7.0000000000000001E-3]
[]
[null,"Colour Copies ",{"$f":"D53*12","v":0},0,null,144000,12000]
[null,"Colour Copy Charge ($)",{"$f":"D54","v":0},0,null,0.14799999999999999,0.14799999999999999]
[null,"Colour Service Charge ($)*",{"$f":"D55","v":0},0,null,7.0000000000000007E-2,7.0000000000000007E-2]
[]
[null,"Annual / Monthly repayment (input to Cell H21)",{"$f":"(C49*(C50-C51))+(C53*(C54-C55))","v":0},{"$f":"(D49*(D50-D51))+(D53*(D54-D55))","v":0},null,47519.999999999993,4086]
[null,"Annual Maintenance & Other Costs (input to Cell H23)",{"$f":"(C49*C51)+(C53*C55)","v":0},{"$f":"(D49*D51)+(D53*D55)","v":0},null,{"$f":"(F49*F51)+(F53*F55)","v":22680},{"$f":"(G49*G51)+(G53*G55)","v":1890}]
[]
[null,"* Please note this information may not be included in the agreement. If not, you will need to request this information from the leasing company so that an accurate calculation can be made. "]
[]
[null,"Questions to ask your self "]
[null,"Have I considered all my options? What alternatives are there?","What type of debt/finance arrangement am in entering? A lease, a loan or some other arrangement?"]
[null,"What is the total cost of this item? ","What are my payment options?"]
[null,"What are there servicing and maintenance arrangements?","What happens if I want to exit the agreement early?"]
[null,"Are servicing and maintenance arrangements factored in to the cost?\n     If so - can I separate this from the cost of the purchase?\n     If not - what additional costs may I incur?  ","What type of Lease agreement am I entering? Do I have any Balloon payments? Am I leasing to buy? How do these impact my financial position and ultimate intended outcome?"]
[null,"Do I know the interest rate I am paying?","Is this purchase in line with our strategic goals or objectives? "]
[null,"What kind of support does the company offer me after the sale?","Have I undertaken good due diligence to ensure I'm getting the best value for money?"]
[null,"What other obligations do we have in regard to the equipment? ","Is there an installation cost? "]
[null,"Have I considered the 'total life' cost? ","How will this impact my current infrastructure? Are there other related upgrades that will be needed?"]
[null,"How will I replace this asset once it reaches the end of it useful life?","How long will it take for the equipment to begin paying for its self?"]
[null,"Do my lease payments automatically increase by the Consumer Price Index (CPI) annually? ","Is IT support included in the service element of the agreement or is this extra? What is include in the servicing elements? "]
[null,"Often when you are nearing the end of a lease, you maybe approached to re-sign you current agreement often at a lower rate. You should ask your self:\n- Is this really a better rate?\n- Am I happy to remain with this companies product for the period of extension?\n- Have I investigated alternatives or assessed the market?\n- What are the benefits and disadvantages of resigning? Is there an upgrade of technology or new machine?   "]
[]
[null,"Am I Entering a Finance Lease?"]
[null,"There are several key questions to ask to determining if you are in fact entering a Finance lease. The questions below are the Technical Accounting questions that are asked when making this assessment. The more often you answer \"YES\" the more likely the lease you are entering will be considered a finance lease.  Please note that how a lease is classified is always made at the start of the lease."]
[null,"Question to ask","Yes","No"]
[null,"Does the lease transfer ownership of the asset to you by the end of the term. i.e. will you own the asset at the end of the lease."]
[null,"Do you have the option to purchase the asset at a price that is expected to be sufficiently lower than the value of the asset when you entered the lease?. Are you expecting to take up this option?"]
[null,"Will the lease cover the majority useful life of the asset, even if title is not transferred. i.e. the asset will require replacement at the end of the leased period.  "]
[null,"At the start of the lease, the present value of the minimum lease payments in total amounts to at substantially the cost to purchase the asset outright?\n\nPlease seek guidance from your service provider or local Schools Finance Advisor. "]
[null,"The leased assets are of such a specialised nature that only you can use them without significant modifications."]
[null,"The asset(s) cannot easily be replaced by another asset"]
[null,"If you cancel the lease early will you be liable for the costs associated to breaking of the contract? "]
[null,"Any gains or losses from changes in the fair value of a final liability amount that could become payable. (E.g. a rent rebate equalling most of the sales proceeds at the end of the lease)"]
[null,"Are you able to extent the term of your lease, for a rate that is  substantially lower than a new market rate would be?"]
[]
[null,"Input & Other Relevant Cell Guidance","Guidance"]
[null,"Proposed Acquisition: ","Enter nature of acquisition e.g. computer, iPads etc."]
[null,"Prepared By: ","Enter your name"]
[null,"Date: ","Defaults to the date on which the analysis is being prepared"]
[null,"Start/Buy Date: ","As per lease agreement or as expected. Enter in format DD MONTH YEAR e.g. 30 June 2019"]
[null,"Lease Term (Years): ","As per lease agreement or as expected"]
[null,"Asset Useful Life (Years): ","As per lease agreement or as per experience you can refer to IRD website for useful life of assets - see link below"]
[null,"Annual Discount Rate: ","Fixed to current Treasury 'Default' discount rate https://treasury.govt.nz/information-and-services/state-sector-leadership/guidance/financial-reporting-policies-and-guidance/discount-rates"]
[null,"Buy Price: ","The school should seek competitive quotes through contact with multiple vendors to ensure value for money.  If seeking finance, the school should similarly seek the cheapest rate of finance.  Schools should ensure they investigate the All-of-Government contracts for a potentially reduced 'buy' price"]
[null,"Trade-in/Discount: ","As per lease agreement"]
[null,"Salvage/Residual Value: ","As per lease agreement"]
[null,"Annual Lease Payments: ","As per lease agreement. If the monthly or annual lease cost is not directly stated in your lease agreement, you may need to undertake some additional calculations. Please follow this link to assist with determining this calculation. Should you need advice please discuss this with you school Financial adviser. "]
[null,"Annual Maintenance & Other Costs: ","As per lease agreement"]
[null,"Annual Existing Borrowing Commitments","Enter all existing interest and principal payments -  excluding costs specific to the lease under consideration. Refer to the Example table"]
[null,"Do you have sufficient funds to buy the asset and meet the school's future cash flow requirements?","Ensure you consider the cash flow implications of a buy decision relative to your schools cash position. Consideration of ongoing/future commitments must be made.                                                                                                                                                                                                                                                                                                                                                                                                                                                               •  Select YES if your school has sufficient cash to BUY the asset and enough cash to meet ongoing/future commitments                                                                                                                                                                                                                                                                           •  Select NO if you don't have sufficient cash to buy the asset, and don't have enough cash for ongoing/future commitments should you buy the asset OR if your school does have sufficient funds but for valid reasons you don't wish to buy the asset e.g. the lease offers a superior warranty compared to the buy option/or you have obsoleteness concerns should you buy the asset"]
[null,"What is this year's Operations Grant? ","As per the school's funding agreement/advice from the MoE"]
[null,"Annual Existing Borrowing Commitments","Formula - Linked to input into Annual Existing Commitments"]
[null,"New annual borrowing and interest payments","Formula - Additional cost component specific to lease under consideration"]
[null,"Total expected annual borrowing and interest payments","Formula                                                                                                                                                                                                                                                  •  Total of 'Current annual borrowing and interest payments' in year of lease commencement and 'New annual borrowing and interest payments'                                                                                                                                                                                                                    •  Total schools borrowing and interest payments cannot exceed 10% of it's operational funding - [Refer to FISH section 2.4.5 'Borrowing decisions']"]
[null,"Inputs Result","Results from your inputs must take into account all considerations (refer above for guidance ''Making a decision on whether to Lease vs. Buy - Considerations/Checklist'')"]
[null,"Opportunity Cost (Interest Foregone)","This represents the loss of interest that you could have potentially earned by not purchasing the equipment outright and leaving the Money in your bank account. "]

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[null,null,"Buy vs. Lease Inputs",null,null,null,null,null,null,null,null,null,null,null,null,null,null,null,null,null,null,null,null,null,null,null,null,null,null,null,null,null,null,null,null,null,null,null,null,null,"Lease Option",{"$f":"Y19","v":0}]
[]
[null,null,null,null,null,null,null,null,null,null,null,null,"Cash Buy",null,null,null,null,null,null,null,"Leasing",null,null,null,null,null,null,null,null,null,null,null,null,null,null,null,null,null,null,null,null,{"$f":"IF(AND(H38=\"No\",AP5>0.1),\"Limit\",IF(AND(H38=\"Yes\",Q19<Y19),\"buy\",\"lease\"))","v":"lease"}]
[null,null,"Proposed Acquisition: ",null,null,null,null,null,null,null,null,null,"Year Ending","Maintenance & Other Costs","Opportunity Cost (Interest Foregone)","Net Cash Outlay",null,null,null,null,"Year Ending","Annual Lease Payments","Maintenance & Other Costs","Net Cash Outlay",null,null,null,null,null,null,null,null,null,null,null,null,null,null,null,null,null,{"$f":"IFERROR((F48)/F42,0)","v":0}]
[null,null,null,null,null,null,null,null,null,null,null,null,null,null,null,"Current Value","Net Present Value",null,null,null,null,null,null,"Current Value","Net Present Value"]
[null,null,"Prepared By: ",null,null,null,"Date: ",{"$f":"TODAY()","v":"2020-08-24"},null,null,null,1,{"$f":"IF($L7<=LeaseTerm,StartDate+VLOOKUP(YEAR(StartDate),YearDays,2,),\"\")","v":""},{"$f":"IF(M7=\"\",\"\",MaintBuy)","v":""},{"$f":"IF(M7=\"\",\"\",PurchasePrice*OCRRate)","v":""},{"$f":"IF(M7=\"\",\"\",SUM(N7:O7))","v":""},{"$f":"IF(M7=\"\",\"\",ROUND(PV(DiscRate,L7-1,,-P7),0))","v":""},null,null,null,{"$f":"M7","v":""},{"$f":"IF(U7=\"\",\"\",AnnualLease)","v":""},{"$f":"IF(U7=\"\",\"\",(MaintLease))","v":""},{"$f":"IF(U7=\"\",\"\",SUM(V7:W7))","v":""},{"$f":"IF(U7=\"\",\"\",ROUND(PV(DiscRate,L7-1,,-X7),0))","v":""}]
[null,null,null,null,null,null,null,null,null,null,null,2,{"$f":"IF($L8<=LeaseTerm,M7+VLOOKUP(YEAR($M7),YearDays,2,),\"\")","v":""},"",{"$f":"IF(M8=\"\",\"\",(PurchasePrice-SUM($R$8:R8))*OCRRate)","v":""},{"$f":"IF(M8=\"\",\"\",SUM(N8:O8))","v":""},"",{"$f":"IF($M8=\"\",\"\",(PurchasePrice-Residual)/(LeaseTerm-1))","v":""},null,null,{"$f":"M8","v":""},"","",{"$f":"IF(U8=\"\",\"\",SUM(V8:W8))","v":""},"",{"$f":"IF($M8=\"\",\"\",($X$19)/(LeaseTerm-1))","v":""}]
[null,null,null,null,null,null,null,null,null,null,null,3,"","",{"$f":"IF(M9=\"\",\"\",(PurchasePrice-SUM($R$8:R9))*OCRRate)","v":""},"","","",null,null,"","","","","",""]
[null,null,null,null,null,null,null,null,null,null,null,4,"","",{"$f":"IF(M10=\"\",\"\",(PurchasePrice-SUM($R$8:R10))*OCRRate)","v":""},"","","",null,null,"","","","","",""]
[null,null,"Start/Buy Date: ",null,null,null,"Buy Price: ",null,null,null,null,5,"","",{"$f":"IF(M11=\"\",\"\",(PurchasePrice-SUM($R$8:R11))*OCRRate)","v":""},"","","",null,null,"","","","","",""]
[null,null,null,null,null,null,null,null,null,null,null,6,"","",{"$f":"IF(M12=\"\",\"\",(PurchasePrice-SUM($R$8:R12))*OCRRate)","v":""},"","","",null,null,"","","","","",""]
[null,null,"Lease Term (Years): ",null,null,null,"Trade-in/Discount: ",null,null,null,null,7,"","",{"$f":"IF(M13=\"\",\"\",(PurchasePrice-SUM($R$8:R13))*OCRRate)","v":""},"","","",null,null,"","","","","",""]
[null,null,{"$f":"IF(LeaseTerm>UsefulLife,\"Please ensure the Lease Term is less than or equal to the Asset Useful Life\",\"\")","v":""},null,null,null,null,null,null,null,null,8,"","",{"$f":"IF(M14=\"\",\"\",(PurchasePrice-SUM($R$8:R14))*OCRRate)","v":""},"","","",null,null,"","","","","",""]
[null,null,"Asset Useful Life (Years): ",null,null,null,"Salvage/Residual Value: ",null,null,null,null,9,"","",{"$f":"IF(M15=\"\",\"\",(PurchasePrice-SUM($R$8:R15))*OCRRate)","v":""},"","","",null,null,"","","","","",""]
[null,null,null,null,null,null,null,null,null,null,null,10,"","",{"$f":"IF(M16=\"\",\"\",(PurchasePrice-SUM($R$8:R16))*OCRRate)","v":""},"","","",null,null,"","","","","",""]
[null,null,"Annual Discount Rate: ",0.06,null,null,null,null,"All $ amounts are to exclude GST",null,null,null,null,null,"Salvage Value: ",null,{"$f":"-Y17","v":0},null,null,null,null,null,"Residual Value: ",{"$f":"Residual","v":0},{"$f":"ROUND(PV(DiscRate,LeaseTerm,,-X17),0)","v":0}]
[null,null,null,null,null,null,null,null,null,null,null,null,null,null,"Net Purchase Price: ",{"$f":"PurchasePrice-TradeIn","v":0},{"$f":"PurchasePrice-TradeIn","v":0}]
[null,null,null,null,null,null,null,null,null,null,null,null,null,null,"Total Cost to Buy: ",{"$f":"SUM(P7:P18)","v":0},{"$f":"SUM(Q7:Q18)","v":0},null,null,null,null,null,"Total Cost to Lease: ",{"$f":"SUM(X7:X16)","v":0},{"$f":"SUM(Y7:Y18)","v":0}]
[null,null,null,null,"Buying",null,null,"Leasing"]
[null,null,null,"Annual Lease Payments: "]
[]
[null,null,null,"Annual Maintenance & Other Costs: "]
[]
[]
[null,null,"Annual Existing Borrowing Commitments"]
[null,null,"Item",null,null,"Interest and Principal Payments"]
[]
[]
[]
[]
[]
[]
[null,null,"Total",null,null,{"$f":"SUM(F28:G33)","v":0}]
[]
[]
[null,null,"Do you have sufficient funds to buy the asset and meet the school's future cash flow requirements?"]
[]
[]
[]
[]
[null,null,"What is this year's Operations Grant? "]
[]
[null,null,"Annual Existing Borrowing Commitments",null,null,{"$f":"F34","v":0},null,{"$f":"IFERROR(F44/F42,0)","v":0}]
[]
[null,null,"New annual borrowing and interest payments",null,null,{"$f":"IF(H38=\"Yes\",0,AnnualLease)","v":0}]
[]
[null,null,"Total expected annual borrowing and interest payments",null,null,{"$f":"SUM(F44,F46)","v":0},null,{"$f":"IFERROR(F48/F42,0)","v":0}]
[]
[]
[null,null,"Inputs Result"]
[]
[null,null,{"$f":"IF(H38=\"\",\"\",IF(OR(F42=\"\",F48=\"\",F42=0),\"\",IF(Decision=\"Limit\",\"Please speak to your School Finance Advisor.  You may breach your borrowing limit by using the lease option.\",\"Your inputs result in a \"&IF(Q19>Y19,\"lower\",\"higher\")&\" lease cost than purchase price (see graph). You must, however, consider ALL FACTORS in making your Lease vs. Buy decision.  Click the 'Inputs Result' hyperlink for guidance.\")))","v":""}]

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[null,null,null,null,null,null,null,null,null,null,null,null,null,null,null,null,null,null,null,null,null,null,null,null,null,null,null,null,null,null,null,null,null,null,null,null,null,null,null,null,"Buy Option",{"$f":"Q21","v":0}]
[null,null,"Buy vs. Lease Inputs",null,null,null,null,null,null,null,null,null,null,null,null,null,null,null,null,null,null,null,null,null,null,null,null,null,null,null,null,null,null,null,null,null,null,null,null,null,"Lease Option",{"$f":"Y21","v":0}]
[]
[null,null,null,null,null,null,null,null,null,null,null,null,"Cash Buy",null,null,null,null,null,null,null,"Leasing"]
[null,null,"Proposed Acquisition: ",null,null,null,null,null,null,null,null,null,"Year Ending","Maintenance & Other Costs","Opportunity Cost (Interest Foregone)","Net Cash Outlay",null,null,null,null,"Year Ending","Annual Lease Payments","Maintenance & Other Costs","Net Cash Outlay"]
[null,null,null,null,null,null,null,null,null,null,null,null,null,null,null,"Current Value","Net Present Value",null,null,null,null,null,null,"Current Value","Net Present Value",null,null,null,null,null,null,null,null,null,null,null,null,null,null,null,null,{"$f":"IF(AND(H40=\"No\",AP7>0.1),\"Limit\",IF(AND(H40=\"Yes\",Q21<Y21),\"buy\",\"lease\"))","v":"lease"}]
[null,null,"Prepared By: ",null,null,null,"Date: ",null,null,null,null,1,"","","","","",null,null,null,"","","","","",null,null,null,null,null,null,null,null,null,null,null,null,null,null,null,null,{"$f":"IFERROR((F39)/F33,0)","v":0}]
[null,null,null,null,null,null,null,null,null,null,null,2,"","","","","","",null,null,"","","","","",""]
[null,null,null,null,null,null,null,null,null,null,null,3,"","","","","","",null,null,"","","","","",""]
[null,null,null,null,null,null,null,null,null,null,null,4,"","","","","","",null,null,"","","","","",""]
[null,null,"Start/Buy Date: ",null,null,null,"Buy Price: ",null,null,null,null,5,"","","","","","",null,null,"","","","","",""]
[null,null,null,null,null,null,null,null,null,null,null,6,"","","","","","",null,null,"","","","","",""]
[null,null,"Lease Term (Years): ",null,null,null,"Trade-in/Discount: ",null,null,null,null,7,"","","","","","",null,null,"","","","","",""]
[null,null,"",null,null,null,null,null,null,null,null,8,"","","","","","",null,null,"","","","","",""]
[null,null,"Asset Useful Life (Years): ",null,null,null,"Salvage/Residual Value: ",null,null,null,null,9,"","","","","","",null,null,"","","","","",""]
[null,null,null,null,null,null,null,null,null,null,null,10,"","","","","","",null,null,"","","","","",""]
[null,null,"Annual Discount Rate: ",null,null,null,null,null,"All $ amounts are to exclude GST",null,null,null,null,null,"Salvage Value: ",null,0,null,null,null,null,null,"Residual Value: ",0,0]
[null,null,null,null,null,null,null,null,null,null,null,null,null,null,"Net Purchase Price: ",0,0]
[null,null,null,null,null,null,null,null,null,null,null,null,null,null,"Total Cost to Buy: ",0,0,null,null,null,null,null,"Total Cost to Lease: ",0,0]
[null,null,null,null,"Buying",null,null,"Leasing"]
[null,null,null,"Annual Lease Payments: "]
[]
[null,null,null,"Annual Maintenance & Other Costs: "]
[]
[]
[null,null,"Annual Existing Borrowing Commitments"]
[null,null,"Item",null,null,"Interest and Principal Payments"]
[]
[]
[]
[]
[]
[]
[null,null,"Total",null,null,0]
[]
[]
[null,null,"Do you have sufficient funds to buy the asset and meet the school's future cash flow requirements?"]
[]
[]
[]
[]
[null,null,"What is this year's Operations Grant? "]
[]
[null,null,"Annual Existing Borrowing Commitments",null,null,0,null,0]
[]
[null,null,"New annual borrowing and interest payments",null,null,0]
[]
[null,null,"Total expected annual borrowing and interest payments",null,null,0,null,0]
[]
[]
[null,null,"Inputs Result"]
[]
[null,null,""]

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[null,null,"Buy vs. Lease Inputs",null,null,null,null,null,null,null,null,null,null,null,null,null,null,null,null,null,null,null,null,null,null,null,null,null,null,null,null,null,null,null,null,null,null,null,null,null,"Lease Option",{"$f":"Y19","v":0}]
[]
[null,null,null,null,null,null,null,null,null,null,null,null,"Cash Buy",null,null,null,null,null,null,null,"Leasing",null,null,null,null,null,null,null,null,null,null,null,null,null,null,null,null,null,null,null,null,{"$f":"IF(AND(H38=\"No\",AP5>0.1),\"Limit\",IF(AND(H38=\"Yes\",Q19<Y19),\"buy\",\"lease\"))","v":"lease"}]
[null,null,"Proposed Acquisition: ",null,null,null,null,null,null,null,null,null,"Year Ending","Maintenance & Other Costs","Opportunity Cost (Interest Foregone)","Net Cash Outlay",null,null,null,null,"Year Ending","Annual Lease Payments","Maintenance & Other Costs","Net Cash Outlay",null,null,null,null,null,null,null,null,null,null,null,null,null,null,null,null,null,{"$f":"IFERROR((F48)/F42,0)","v":0}]
[null,null,null,null,null,null,null,null,null,null,null,null,null,null,null,"Current Value","Net Present Value",null,null,null,null,null,null,"Current Value","Net Present Value"]
[null,null,"Prepared By: ",null,null,null,"Date: ",null,null,null,null,1,"","","","","",null,null,null,"","","","",""]
[null,null,null,null,null,null,null,null,null,null,null,2,"","","","","","",null,null,"","","","","",""]
[null,null,null,null,null,null,null,null,null,null,null,3,"","","","","","",null,null,"","","","","",""]
[null,null,null,null,null,null,null,null,null,null,null,4,"","","","","","",null,null,"","","","","",""]
[null,null,"Start/Buy Date: ",null,null,null,"Buy Price: ",null,null,null,null,5,"","","","","","",null,null,"","","","","",""]
[null,null,null,null,null,null,null,null,null,null,null,6,"","","","","","",null,null,"","","","","",""]
[null,null,"Lease Term (Years): ",null,null,null,"Trade-in/Discount: ",null,null,null,null,7,"","","","","","",null,null,"","","","","",""]
[null,null,"",null,null,null,null,null,null,null,null,8,"","","","","","",null,null,"","","","","",""]
[null,null,"Asset Useful Life (Years): ",null,null,null,"Salvage/Residual Value: ",null,null,null,null,9,"","","","","","",null,null,"","","","","",""]
[null,null,null,null,null,null,null,null,null,null,null,10,"","","","","","",null,null,"","","","","",""]
[null,null,"Annual Discount Rate: ",null,null,null,null,null,"All $ amounts are to exclude GST",null,null,null,null,null,"Salvage Value: ",null,0,null,null,null,null,null,"Residual Value: ",0,0]
[null,null,null,null,null,null,null,null,null,null,null,null,null,null,"Net Purchase Price: ",0,0]
[null,null,null,null,null,null,null,null,null,null,null,null,null,null,"Total Cost to Buy: ",0,0,null,null,null,null,null,"Total Cost to Lease: ",0,0]
[null,null,null,null,"Buying",null,null,"Leasing"]
[null,null,null,"Annual Lease Payments: "]
[]
[null,null,null,"Annual Maintenance & Other Costs: "]
[]
[]
[null,null,"Annual Existing Borrowing Commitments"]
[null,null,"Item",null,null,"Interest and Principal Payments"]
[]
[]
[]
[]
[]
[]
[null,null,"Total",null,null,0]
[]
[]
[null,null,"Do you have sufficient funds to buy the asset and meet the school's future cash flow requirements?"]
[]
[]
[]
[]
[null,null,"What is this year's Operations Grant? "]
[]
[null,null,"Annual Existing Borrowing Commitments",null,null,0,null,0]
[]
[null,null,"New annual borrowing and interest payments",null,null,0]
[]
[null,null,"Total expected annual borrowing and interest payments",null,null,0,null,0]
[]
[]
[null,null,"Inputs Result"]
[]
[null,null,""]

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[null,null,null,null,null,null,null,null,null,null,null,null,null,null,null,null,null,null,null,null,null,null,null,null,null,null,null,null,null,null,null,null,null,null,null,null,null,null,null,null,"Buy Option",{"$f":"Q19","v":2362}]
[null,null,"Buy vs. Lease Inputs",null,null,null,null,null,null,null,null,null,null,null,null,null,null,null,null,null,null,null,null,null,null,null,null,null,null,null,null,null,null,null,null,null,null,null,null,null,"Lease Option",{"$f":"Y19","v":2545}]
[]
[null,null,null,null,null,null,null,null,null,null,null,null,"Buying",null,null,null,null,null,null,null,"Leasing",null,null,null,null,null,null,null,null,null,null,null,null,null,null,null,null,null,null,null,null,{"$f":"IF(AND(H38=\"No\",AP5>0.1),\"Limit\",IF(AND(H38=\"Yes\",Q19<Y19),\"buy\",\"lease\"))","v":"buy"}]
[null,null,"Proposed Acquisition: ","Computer Equipment",null,null,null,null,null,null,null,null,"Year Ending","Maintenance & Other Costs","Opportunity Cost (Interest Foregone)","Net Cash Outlay",null,null,null,null,"Year Ending","Annual Lease Payments","Maintenance & Other Costs","Net Cash Outlay",null,null,null,null,null,null,null,null,null,null,null,null,null,null,null,null,null,{"$f":"IFERROR((F37)/F31,0)","v":0}]
[null,null,null,null,null,null,null,null,null,null,null,null,null,null,null,"Current Value","Net Present Value",null,null,null,null,null,null,"Current Value","Net Present Value"]
[null,null,"Prepared By: ","Joe Bloggs",null,null,"Date: ","2019-04-08",null,null,null,1,"2020-04-09",100,120,220,220,null,null,null,"2020-04-09",600,50,650,650]
[null,null,null,null,null,null,null,null,null,null,null,2,"2021-04-09",100,84,184,174,600,null,null,"2021-04-09",600,50,650,613,866.66666666666663]
[null,null,null,null,null,null,null,null,null,null,null,3,"2022-04-09",100,48,148,132,600,null,null,"2022-04-09",600,50,650,578,866.66666666666663]
[null,null,null,null,null,null,null,null,null,null,null,4,"2023-04-09",100,12,112,94,600,null,null,"2023-04-09",600,50,650,546,866.66666666666663]
[null,null,"Start/Buy Date: ","2019-04-09",null,null,"Buy Price: ",2000,null,null,null,5,"","","","","","",null,null,"","","","","",""]
[null,null,null,null,null,null,null,null,null,null,null,6,"","","","","","",null,null,"","","","","",""]
[null,null,"Lease Term (Years): ",4,null,null,"Trade-in/Discount: ",100,null,null,null,7,"","","","","","",null,null,"","","","","",""]
[null,null,"",null,null,null,null,null,null,null,null,8,"","","","","","",null,null,"","","","","",""]
[null,null,"Asset Useful Life (Years): ",5,null,null,"Salvage/Residual Value: ",200,null,null,null,9,"","","","","","",null,null,"","","","","",""]
[null,null,null,null,null,null,null,null,null,null,null,10,"","","","","","",null,null,"","","","","",""]
[null,null,"Annual Discount Rate: ",0.06,null,null,null,null,"All $ amounts are to exclude GST",null,null,null,null,null,"Salvage Value: ",null,-158,null,null,null,null,null,"Residual Value: ",200,158]
[null,null,null,null,null,null,null,null,null,null,null,null,null,null,"Net Purchase Price: ",1900,1900]
[null,null,null,null,null,null,null,null,null,null,null,null,null,null,"Total Cost to Buy: ",2564,2362,null,null,null,null,null,"Total Cost to Lease: ",2600,2545]
[null,null,null,null,"Buying",null,null,"Leasing"]
[null,null,null,"Annual Lease Payments: ",null,null,null,600]
[]
[null,null,null,"Annual Maintenance & Other Costs: ",100,null,null,50]
[]
[]
[null,null,"Existing Borrowing Commitments"]
[null,null,"Item",null,null,"Interest and Principal Payments"]
[null,null,"Copier",null,null,200]
[null,null,"Car",null,null,9500]
[]
[]
[]
[]
[null,null,"Total",null,null,9700]
[]
[]
[null,null,"Do you have sufficient funds to buy the asset and meet the school's future cash flow requirements?"]
[null,null,null,null,null,null,null,"Yes"]
[]
[]
[]
[null,null,"What is this year's Operations Grant? ",null,null,100000]
[]
[null,null,"Current annual borrowing and interest payments",null,null,9700,null,9.7000000000000003E-2]
[]
[null,null,"New annual borrowing and interest payments",null,null,0]
[]
[null,null,"Total expected annual borrowing and interest payments",null,null,9700,null,9.7000000000000003E-2]
[]
[]
[null,null,"Inputs Result"]
[]
[null,null,"Your inputs result in a higher lease cost than purchase price. You must, however, consider ALL FACTORS in making your Lease vs. Buy decision.  Click the 'Inputs Result' hyperlink for guidance."]

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[]
[null,"Lists and Tables"]
[]
[null,"Year","Days",null,"OCR Rate"]
[null,2012,365,null,1.7500000000000002E-2]
[null,2013,365]
[null,2014,365]
[null,2015,366]
[null,2016,365]
[null,2017,365]
[null,2018,365]
[null,2019,366]
[null,2020,365]
[null,2021,365]
[null,2022,365]
[null,2023,366]
[null,2024,365]
[null,2025,365]
[null,2026,365]
[null,2027,366]
[null,2028,365]
[null,2029,365]
[null,2030,365]
[null,2031,366]
[null,2032,365]
[null,2033,365]
[null,2034,365]
[null,2035,366]
[null,2036,365]