During a presentation at the Dec. 2 school board meeting, representatives of Public Financial Management Inc. reported the district has two opportunities for significant savings through bond refunding in 2015.

A series of 2008 bonds with $10,345,000 principal outstanding at a 5-percent interest rate is callable March 1, 2015.

The net savings are anticipated to be $337,480 or 3.93 percent of the refunded principal.

This money would help the financial situation in the fiscal year 2014-15.

Series 2010 bonds with $15,545,000 principal outstanding at a 3.65-percent interest rate are callable Aug. 15, 2015.

Analysts expect a savings of $397,458 or 2.56 percent of the refunded principal on these bonds.

The savings would impact the budgets from 2015-16 to 2019-20.

A parameters resolution will enable administrators and consultants to act on the refunding when conditions are most favorable.

In the past three years, the district has saved more than $5 million through bond refundings.

In another financial matter, Business Manager John Vignone reported the district will borrow $9 million in new money bonds in 2015 for capital projects.

The action will be the last step of a three-year funding plan which brought Parkland $9.8 million in 2013 and $9.3 million in 2014.

Vignone said the first two loans were used and the district had to borrow from the general fund to keep construction going at Kratzer Elementary School.

When the new bond money is received, a portion will be used to reimburse the general fund.

The remainder will go to ongoing costs at Kratzer and some other capital expenditures, such as the purchase of school buses and updating district technology components and systems.