Business administrator Robert Saul introduced RBC Capital Markets Managing Director Ken Phillips and Ben Kapenstein, senior analyst with PFM Financial Advisors to the East Penn Board of School Directors at their regular meeting June 24. The duo informed the board the district could gain a potential net savings of $155,000 by considering their proposal for debt service refinancing.

In their presentation, Phillips and Kapenstein encouraged the directors to refinance $6,770,000 from Series A of 2012 bonds and $6,540,000 from Series of 2014 bonds. The fixed interest rates currently range between 2 to 3.25 percent. Refinancing would bring them down to 2 to 2.2 percent, reducing the rate by an average of 1 percent. The district had previously refinanced bonds that had variable rates to fixed rates in 2018. Kapenstein was filling in for his colleague, Scott Shearer, who was unable to attend.

Phillips and Kapenstein were instructed by the directors to proceed with exploring what Saul referred to as “a modest opportunity to realize debt service savings” and return again in July with more details and updates. If the net savings remained at the $150,000 mark, the directors indicated they would be in favor of the proposal.

The board approved the 2019-2020 athletics admission fees, with general admission prices at $5 for adults and $3 for students and seniors for varsity football, varsity and junior varsity wrestling, and boys and girls basketball. Season tickets range from $20-$40 for adults and $12 -$20 for students. Senior citizens with an East Penn Gold Card are admitted free. These remain unchanged from the previous school year.

During her district update, School Superintendent Kristen Campbell said a dozen newly-retired East Penn District personnel were recognized at a retiree’s annual dinner June 13. She praised them for being “individuals who have devoted themselves to the district.” Campbell also thanked board vice president Paul Champagne for representing the board there.

The directors acknowledged the resignation of Lower Macungie Middle School sixth grade teacher Lauren Krause effective June 14.

Kadie Smith was approved by the board to teach mathematics at LMMS effective Aug. 19.

During a second reading of board policy updates, Assistant Superintendent Douglas Povilaitis pointed out a minor change regarding comparability of services with Title I funding and tweaks to the new “Crowdfunding” policy to differentiate between school-affiliated and outside efforts to raise funds for district needs. He also discussed with the directors rewrites he had made regarding distribution and posting of materials in regards to freedom of speech for students, faculty and outside persons or groups in keeping with recommendations made at the previous meeting.

“I wish I could tell you that anybody knows what the budget is going to be,” Director Charles Ballard said regarding the state legislature. He was skeptical the commonwealth would meet its June 30 deadline.

There were no requests to address the board.

Board President Ken Bacher said there was an executive session prior to the public meeting on “safety and security.”

The East Penn Board of School Directors meet regularly 7:30 p.m. on the second and fourth Monday of each month. The next meeting is scheduled for July 8. The public can access documents through BoardDocs via a link on the district website. There is free WiFi available for audience members during the meetings in the boardroom of the administration building.