Title
Replacement printer leases
History
Over the past few years most of the multi-function printers were consolidated under a Konica Minolta lease agreement. A number of multi-function printers (MFP) are coming off lease. In the past MFPs that are off lease had a $1 buy out at the end of the lease. Those that were performing well without any issue were purchased for $1 not replaced to get the most out of the investment. Unfortunately the Konica leases were not structured with a $1 buy out but a stated market value. There are six Konica leases that are expiring on 2026 that have a buy out cost of $24,479.51. In addition there would be a 12% increase in operating expenses if these devices were purchased to cover toner and support. There are three options to replace the six MFPs that are end of lease.
1. Purchase them with the stated market value cost of $24,479.51 and per click charges of $.041 per page of color and $.0041 per page of black and white.
2. Lease new Konica Minolta MFPs at a monthly lease cost of $21153.10 for 60 months with a $1 buy out at the end of the lease and per click charges of $.04 per page of color and $.004 per page of black and white.
3. Lease Xerox from Next Day Plus at a monthly lease cost of $1544.21 with a $1 buy out at the end of the lease and monthly maintenance cost of $1056 for 25000 black and white and 15000 pages of color printer per month and overage charges of $.06 per page of color and $.0065 per page of black and white.
...Financial Impact
Funds designated for these multi-functional leases and maintenance were approved by the Board of Trustees in the FY2024 Budget.