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Finance committee reports AA A bond rating for ESIP II; district to sell solar RECs and raise lunch prices by 10¢
Summary
The finance committee said the district secured a AAA rating for bonds funding Energy Savings Improvement Program II, plans to sell solar renewable energy certificates July 9, and will raise student lunch prices by 10¢ and breakfast by 5¢ for 2025–26 while remaining below state minimum recommendations.
At the June 17 meeting the West Windsor-Plainsboro finance committee reported on several fiscal and operational items: bond financing for energy upgrades, a sale of solar renewable energy certificates (RECs), and small increases in school meal prices for the 2025–26 school year.
Luisa reported that the district is funding its second Energy Savings Improvement Program (ESIP II) through bonds and that the district received a AAA rating for the bond sale, which was described as reflecting "strong fiscal planning and healthy reserve balances." The district will sell solar renewable energy certificates generated over the past six months on July 9.
Under cafeteria operations, the administration used the state Paid Lunch Equity calculation tool to set meal prices, resulting in a 10¢ lunch increase and a 5¢ breakfast increase for 2025–26. A committee member said the district remains below the minimum meal price recommended by the New Jersey Department of Agriculture. Luisa also reported that breakfast participation at the elementary level continues to rise and that meals served to students eligible for free or reduced-price programs rose 36% year-over-year in May. The committee noted staffing challenges in the food-service vendor: two Southwest Food Service Excellence employees resigned in June.
The finance committee also reported that the first construction meeting for the HAWK HVAC replacement project was held and that building envelope work and boiler removal at Village Elementary are underway. The committee reviewed motions on the agenda, including approvals for capital reserve deposits, insurance carrier designation, membership renewals with School Alliance Insurance Fund and NJSIG, tuition and lunch rates, sale of RECs, purchases through cooperatives and state contract, technology service agreements, capital outlay purchases, and a renewal of shared transportation maintenance services.
