Altoona Area School District Finalizes Bonds

Map of Blair County, Pennsylvania, United Stat...

Map of Blair County, Pennsylvania, United States Public School Districts (Photo credit: Wikipedia)

The Altoona Area School District recently refinanced a bond series of $46 million for a net interest savings of more than $2 million.

The district’s favorable A-plus credit rating achieved by years of good financial management, a Standard and Poor’s rating services report stated, is one reason the district was able to reduce the original 4.36 percent interest rate and obtain the savings.

Market conditions providing 40-year low bond interest rates were another reason.

“The savings are higher than the estimate we had in September,” Business Manager Michelle Krebs said.

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TriCounty Community Financial Resources Fair

Location of Pottstown in Montgomery County

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Wednesday, March 14, 11am-1pm

Montgomery County Community College, West Campus

101 College Drive, Pottstown

Learn more about saving, investing, credit counseling, financial aid assistance, wills and trusts, disability income protection, heating assistance, energy conservation tips, in-home services, and more! 

Glum Econmic News For June

The economic recovery slowed down in June.  Consumer spending fell by .02 percent, which can be blamed in part on rising gas and food prices.  Workers saw incomes rise by only .01 percent, the smallest increase in nine months.  On a positive note, personal savings rose 5.4 percent.

Hiring in June was at the lowest level in nine months.  Only 18,000 net jobs were added and the unemployment rate rose to 9.2%.

Some economic forecasters are lowering their outlook for economic growth in the second half of the year from 2.5 percent to 2.0 percent.