Wayzata board reviews Apple master lease for 4,200 iPads and 850 MacBook Airs totaling $2.71 million

District finance staff presented a Master Lease Purchase Agreement with Apple Inc. to finance replacement technology for students and staff.

Scott LeSage, Executive Director of Finance and Operations, told the Board that the district sought financing proposals for 850 MacBook Airs and 4,200 iPads to be replaced under the district’s replacement cycle, and that Apple’s proposal set the total equipment cost at $2,707,436.00. The schedule in the draft agreement shows four equal annual payments of $676,859.00 starting July 5, 2025, and the agreement is presented with a 0% annual interest rate, according to the documentation on the agenda.

The recommendation placed on the consent agenda asked the Board to “Approve the Master Lease Purchase Agreement with Apple Inc. and authorize the Executive Director of Finance and Operations to execute and deliver the agreement.” The materials attached to the agenda include a detailed schedule of lease payment dates and an acceptance certificate format. The agreement also notes an Issue Price and tax reporting steps (Form 8038-G/8038-GC) required for federal tax purposes.

The agenda packet lists a closing checklist and delivery instructions for signed originals to Apple Financial Services. The board materials did not include an on-the-record roll-call vote for this specific schedule in the transcript excerpts provided; the item was offered as part of the consent agenda and documented for board action.

Next steps: if approved as presented, the District would make the first installment payment on 7/5/2025 and follow the payment schedule included in Schedule No. 14 to the Master Lease.