CLEARFIELD – The Clearfield Area School Board heard from Wes Hall of the PFM Group, who gave the results of the bond refinancing, authorized May 22.
Essentially, this is refinancing the debt service with a rate of 2.57 percent from Janney Montgomery Scott LLC, a financial firm.
Hall explained that they put the bonds out for bid Monday, and Janney won with the lowest interest rate.
The new debt service, series 2017, will be used to finance projects at the elementary and junior/senior high buildings.
The final budget for the district for the 2017-18 school year was approved with the general fund budget at $40,400,247, the capital projects fund budget at $888,000 and the cafeteria fund budget at $1,591,003.
Taxes remain unchanged with real estate millage set at 94.84 mills, earned income tax at 1 percent, real estate transfer tax at 1 percent and local services tax at $5.
The district will also be receiving Title I and II funds from the federal government when the district anticipated not receiving any funding. Title I will be $127,000 and Title II about $200,000.
The board again heard from the public regarding changes to advanced chemistry with a student and a parent addressing the board and expressing the need for a 60-minute class with the same teacher from previous years, Mrs. Fye, teaching.
Later during committee reports, the board approved purchasing a plan period from teacher Dave Domico to provide the class pending student enrollment.
Superintendent Terry Struble explained that this is with the direction to continue finding time for the entire 60-minute course, as opposed to the proposed 40 minutes, and said there are other factors taking place that may affect how this turns out.
The board also approved several memorandums of understanding with the Lawrence Township Police Department, in regards to Kinder Camp and also in creating a Bocce team, which would include two coaches and be funded through Special Olympics.
Struble added two other local school districts offer the sport, including Curwensville and West Branch.