District anticipates $5 million solar project funding to cut electricity costs
January 18, 2025 | Tunkhannock Area SD, School Districts, Pennsylvania
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The Tunkhannock Area School District Board convened on January 16, 2025, to discuss several key topics, including financial management, solar energy initiatives, and committee appointments.
The meeting began with a review of the district's financial status, highlighting a positive shift from a credit rating of 2 to 1. This improvement indicates strong financial management within the district's administration, allowing for better rates on potential bonds or obligation notes.
A significant portion of the meeting was dedicated to an update on the district's solar energy project. Dr. Soupan provided insights into the progress made, noting that assessments of all district buildings have been completed to ensure they can support the upcoming electrical and infrastructure changes. The district has applied for a state grant that could provide $300,000 to help offset project costs. If successful, this grant, combined with a potential increase in credits from 40% to 45%, could result in substantial financial benefits, potentially saving the district up to $5 million over time.
The board discussed the implications of these savings, estimating that the district currently spends between $1 million and $1.2 million annually on electricity. The anticipated cash flow from the solar project could free up approximately $900,000 each year, significantly impacting the district's budget.
Following the financial discussions, board member Holly was tasked with sending committee appointment details via email, as she had not been able to provide them during the meeting. The board also addressed the LIU 18 election ballots, reminding members to complete and submit them.
In closing, the meeting acknowledged the passing of two former employees, Bill Doherty, an English teacher, and Laurie Kitchhnasty, a custodian, marking a moment of remembrance for their contributions to the district.
Overall, the meeting underscored the district's commitment to financial prudence and sustainable energy solutions, setting a positive trajectory for future initiatives.
The meeting began with a review of the district's financial status, highlighting a positive shift from a credit rating of 2 to 1. This improvement indicates strong financial management within the district's administration, allowing for better rates on potential bonds or obligation notes.
A significant portion of the meeting was dedicated to an update on the district's solar energy project. Dr. Soupan provided insights into the progress made, noting that assessments of all district buildings have been completed to ensure they can support the upcoming electrical and infrastructure changes. The district has applied for a state grant that could provide $300,000 to help offset project costs. If successful, this grant, combined with a potential increase in credits from 40% to 45%, could result in substantial financial benefits, potentially saving the district up to $5 million over time.
The board discussed the implications of these savings, estimating that the district currently spends between $1 million and $1.2 million annually on electricity. The anticipated cash flow from the solar project could free up approximately $900,000 each year, significantly impacting the district's budget.
Following the financial discussions, board member Holly was tasked with sending committee appointment details via email, as she had not been able to provide them during the meeting. The board also addressed the LIU 18 election ballots, reminding members to complete and submit them.
In closing, the meeting acknowledged the passing of two former employees, Bill Doherty, an English teacher, and Laurie Kitchhnasty, a custodian, marking a moment of remembrance for their contributions to the district.
Overall, the meeting underscored the district's commitment to financial prudence and sustainable energy solutions, setting a positive trajectory for future initiatives.
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