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Committee recommends Cogent Bank for $391,000 technology lease
Summary
Staff recommended awarding a roughly $391,000 equipment lease to Cogent Bank after receiving three bids; the committee will forward the multi‑year contract to the Board of Selectmen for approval because the school board cannot sign multi‑year agreements.
Phil reported that the district solicited responses for an approximate $391,000 equipment lease for fiscal 26 and received three bids (Cogent, TD Bank, North American Asset Management, and First American). Staff recommended awarding the lease to Cogent Bank as the lowest‑rate bidder and said the district will present the recommendation to the Board of Selectmen for approval because the school board cannot sign multi‑year agreements.
Committee members expressed no objections to the recommendation at the committee meeting; Phil noted that last year Cogent was the successful vendor and that the company’s documentation is more detailed but that the process had been seamless.
