Auditor says school district's management and accounting have improved greatly.
After years of poor management and decisions, the district's accounting practices have improved immensely, auditor William Gorman told Bethlehem Area School Board members at their finance committee meeting Tuesday evening. He added school administrators were to be commended for the positive changes. “This is my fourth year as your auditor, and this first year I have good news to report,” Gorman said. “You have eliminated 75 percent of the problems you've had in past years. You have only five remaining items to address. Last year, you had 20 items. “My opinion states you are completely in accordance with generally accepted accounting standards,” he added. Board members and district officials received the news warmly. “We've been getting …
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Bethlehem Area School District Education Center
1516 Sycamore St, Bethlehem, PA
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Two school district loans are being refinanced to save money in interest payments and reduce risk.
The Bethlehem Area School District Authority will meet at 6 p.m. in Room 506 at Freedom High School prior to the regular school board meeting to authorize the refinancing a 2010 floating note in the amount of $30 million. Additionally, it has been announced the school board will be introducing a resolution to refund and refinance $4.915 million in Series A 2001 bonds to take advantage of better market conditions at its meeting, scheduled for 7 p.m. in the auditorium following the Authority meeting. Both moves are consistent with and follow the school district's plan to improve its financial standing, said Scott Shearer, managing director for the district's financial advisor, Public Financial Management Inc. “As of today, you have about $…
40.63293
-75.36088
Bethlehem Area School District Education Center
1516 Sycamore St, Bethlehem, PA
/articles/board-plans-to-refinance-35-million
870113
/locations/5850218
40.662119
-75.339932
Freedom High School
3149 Chester Ave, Bethlehem, PA
/articles/board-plans-to-refinance-35-million
869509
/locations/5850219
