The Bethlehem Area School District (BASD) Finance and Human Resources Committee convened on March 10, 2025, to discuss key financial strategies and updates regarding the district's operations. The meeting highlighted ongoing initiatives and potential cost-saving measures through bond refinancing.

The session began with a positive acknowledgment of the district's staff, particularly praising the efforts of vocational school personnel. Committee members expressed their admiration for the dedication and impact of the staff on students, emphasizing the supportive environment fostered within the school.

Following this, Mr. Ristkesian presented an update on the bond refinancing discussion initiated in the previous month. He provided a historical overview of interest rates, noting that they have remained around the 3% mark for the past decade. Currently, the district has a $30 million bond with a 5% coupon rate, which presents an opportunity for refinancing.

The committee discussed a proposed resolution for the upcoming meeting on March 17, which would allow the district to proceed with refinancing if it can secure savings greater than 3%. If the refinancing does not yield sufficient savings, the district would not incur any costs. The anticipated timeline includes settling the refinancing by May 2025, aligning with the bond's call date of August 1, 2025.

Mr. Ristkesian shared projections indicating potential savings of approximately $1.7 million, with an estimated savings rate of 5.6%. He clarified that the savings would not be immediate but would occur over time, benefiting the district's long-term financial strategy.

The meeting concluded without further questions, setting the stage for the upcoming resolution and continued financial planning for the district. The committee's discussions underscored a commitment to fiscal responsibility and the enhancement of educational resources for students.