Jenkintown board approves Apple device lease with 1.99% financing

The Jenkintown School District board on March 16 approved a lease and financing agreement with Apple for classroom devices, adopting Item 7.1 “including the 1.99% interest rate,” the meeting record shows.

Board members moved and seconded the item after staff reported that final contract documents and Exhibit A arrived shortly before the meeting. Staff said the financing offers had shifted several times during negotiations; the package that staff presented at the meeting reflected the 1.99% rate. The board approved the motion by voice vote.

A member asked about typical term lengths for such leases; staff responded that terms are typically about four years and explained that older devices may be offered for faculty purchase at fair market value or handled through vendor buyback arrangements. Several members expressed relief that the financing rate had returned to the level staff had sought earlier in the procurement process.

The motion authorized the board to sign the contract and execute Exhibit A so the district could move forward with device procurement under the agreed terms. The minutes record the action as approved by voice vote; no roll‑call tally was provided in the audio record.

Next steps recorded in the meeting: staff will finalize the contract paperwork and proceed with the vendor to implement the lease under the signed Exhibit A.