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Penn Hills school board authorizes debt refinancing for 2013-14

| Wednesday, Oct. 9, 2013, 9:00 p.m.

The Penn Hills school board recently agreed to refinance the district's 2013-14 debt service.

The board last month voted to authorize business manager Richard Liberto to begin the process of refunding up to $4 million of the roughly $7.5 million the district was scheduled to repay this year.

The move was made as part of the budget process this summer, as board members considered options for dealing with a $5 million deficit.

Ultimately, the board voted 5-3 in favor of a combination of debt restructuring and 11 teacher furloughs; nine of those 11 teachers have been recalled at subsequent board meetings.

Several non-instructional employees also have been recalled from furloughs, including two student aides, at the board's Sept. 9 meeting.

Patrick Varine is an editor for Trib Total Media. He can be reached at 412-320-7845 or pvarine@tribweb.com.

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