EAST ROCKHILL — Pennridge School District was scheduled to be making payments until 2045 on its share of money previously borrowed by Upper Bucks County Technical School.
That changed, though, with the Pennridge School Board’s approval at its Nov. 22 meeting of having up to $11.5 million of bonds issued to refinance the debt.
“What we’re trying to do in order to save the school district’s funds, the taxpayers funds, over the length of this debt is to first refinance it for lower interest rates because the market is at an advantageous state right now,” Business Administrator Sean Daubert said, “and, second is to shorten that debt to a time frame which matches up with the rest of the school district current debt and will allow the school district to be debt-free by the year 2029.”
With the lower interest rate and shorter pay off time, the district will save more than $3 million, he said.
“I just want to thank Mr. Daubert and his team for proposing all this and saving this amount of money,” board member Ronald Wurz said. “It’s a really smart thing to do.”
In a separate matter at the meeting, a total of $9,005.91 from Pennridge Community Education Foundation was distributed in mini grants for 13 projects. Projects included flexible seating, a classroom library expansion, a relaxation/mindfulness center, document camera, keychain fundraiser, sensory wall, instrumental music program enhancement, coding for kindergarten, Fabmaker Classroom, and increasing inclusion through facilitated recess.
“Thank you PCEF for your generous donations,” board President Bill Krause said following the school board’s vote to formally accept the grant money.
“The mini grants let our teachers do lots of cool things,” Krause said.
“The Pennridge Community Education Foundation enhances and supports classroom and extra-curricular programs offered throughout Pennridge. They are an amazing group of volunteers who give of their time and energies to raise funds to support our schools and teachers and celebrate the wonderful happenings in our classrooms each day,” Superintendent David Bolton said during his report.
“These grants given twice a year are used to support creative ideas from our staff that directly impact our students across the district,” Bolton said.
PCEF President Becky Schlotter, who was one of the founding members in 2008, introduced the new Faces of Pennridge video series produced by PCEF.
“The video series was really designed to recognize basically the heroes of the district,” she said.
“We want to be the cheerleaders for the people in the trenches,” said Tom Rutter, a retired Pennridge administrator who conducts the interviews in the videos, speaking in a video played at the board meeting.
‘I think this is also a phenomenal way for the parents at home to get to know the teachers that are teaching their kids every day a little bit closer,” said Dave Schlotter, a Pennridge graduate and Becky Schlotter’s son, who handles the technical side of the videos.
The Faces of Pennridge series can be viewed at ThePCEF.org, Pennridge Community Education Foundation’s YouTube channel or its Facebook page.
The organization, which also showcases district educators at its annual A Lovely Evening fundraiser, is always looking for volunteers and donations, Becky Schlotter said.
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