A presentation by a financial services firm confirmed that Jim Thorpe Area School district will save hundreds of thousands of dollars from its recent energy project.

Managing directors Robert T. Aumer and Alisha M. Reesh of Janney Montgomery Scott LLC presented a summary of the recently completed bond sale to the board of directors at Monday’s meeting.With a total ending obligation of just over $3.5 million dollars, and a guaranteed energy savings total — a figure taken from a Honeywell report – of just under $3.9 million, the district ends up with a minimum total savings of $381,287.09 over the 15 years of the bond issue.The bonds were used to upgrade and replace equipment throughout the district, including lighting and water heaters. Honeywell, the company responsible for the operation, had always assured the district that their total energy savings at the projects’ completion would more than make up for the cost.“These bonds were sold with a five-year call, so in the next five years should interest rates dictate a savings, you will have opportunities to refinance, and generate even more savings,” Reesh said, pointing out an opportunity to net even more money for the district.Gerald Strubinger asked about the bond ratings during the presentation, and Reesh said that they were currently ranked A1, according to Moody’s standards. She indicated that this was especially good, considering “the current circumstances of Pennsylvania school districts.”This means that the district’s bonds are considered to be in the upper-medium grade of the “investment grade” tier for bonds.The interest rates are fixed, so the district does not have to worry about increased rates over the years — and as Reesh said, they may even be able to refinance for a lower rate in the future.Fortunately, the financing was able to be completed before interest rates skyrocketed following the election. Over the past two days, however, interest rates have begun to stabilize.“Interest rates went up a little bit from when we approved the project in the spring, but not by much,” business manager Lauren Kovac said. “I want to say we were expecting close to $400,000 in savings, but it dropped down to around $381,000. But, I’ll take $381,000 in savings. It works out.”ReorganizationThough the Jim Thorpe Area School District held its reorganization at Monday’s meeting, no positions changed hands. Michael Principe stayed as president, with Pearl Downs-Sheckler as vice president, and Gregory Mousseau as solicitor.Regular meetings were confirmed to take place on the second Monday of every month at 7 p.m. Winter meetings will continue to be held at the district office, while meetings from March to May will alternate between the district office and the Penn-Kidder Campus. Executive sessions, if necessary, will continue to take place at 6 p.m. before the regular board meetings.Committee meetings will take place at 6 p.m. on the first and last Mondays, and the third Wednesday of each month if needed.Board member Randall Smith requested that committee meetings be regularly scheduled, with Principe agreeing.Once committee chairs are established, the board will set a routine schedule.