Division's jurisdictional lending pool program a continued success
In 2006, The Board of Trustees of Buffalo Trail Public Schools implemented a Jurisdictional Lending Pool to assist schools in the purchase of large capital items.
The purpose of the Jurisdictional Lending Pool is to remove the need for schools to have to reduce their budget allocations in specified areas in order to raise needed capital purchase dollars. The Jurisdictional Lending Pool also eliminates delay in the purchase of needed capital items until the required school operating reserve is in place. Additionally, it reduces or eliminates the need for schools to enter into long term, high interest lease agreements with vendors to purchase capital items over time.
With the support of their principals, staff and school councils, our schools have accessed over $425,000 to buy items like photocopiers, computer equipment, school buses, electronic signs and technology upgrades. The Jurisdictional Lending Pool has successfully enabled our schools’ students and staff to benefit from their capital purchases earlier which has allowed them the benefit of current technology.
To date, all Jurisdictional Lending Pool loans have been repaid on time with no net cost to the Board.