Princeton board approves levy resolution after forecast shows deficit; approves contracts and roofing work
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At the May 7 meeting, the Princeton City School District Board of Education approved a resolution declaring the necessity of an additional tax levy for operating expenses to be placed on the November 2024 ballot.
The treasurer told the board the district’s current‑year revenue is approximately $92,000,000 while projected expenditures for the year are approaching $94,000,000. The five‑year forecast presented to the board includes a $22,000,000 capital expense for athletic facilities and a continuing phase‑out of tangible personal property (TPP) revenues; absent levy passage, one forecast scenario showed a negative operating cash position in year five (about minus‑27 days). The treasurer said a 5‑mill levy would increase revenue but would not fully eliminate deficit pressures without additional budget adjustments.
“Of that $9,700,000, $6.7 million is TPP. So we’re watching that decrease by $922,000 per fiscal year,” the treasurer said during the presentation. The report also included per‑pupil and daily cost figures (the tool showed about $93 a day to educate a student) and described ESSER rollbacks and how certain ESSER‑funded positions were managed through attrition.
On action items, the board voted on several routine and contract matters. Outcomes recorded in the meeting:
Votes at a glance
• Consent agenda — approved (voice/roll call).
• April 2024 financial report — approved.
• Amended appropriation resolution (part b) to increase appropriations for bond fund, pre‑K and medical claims — approved.
• Five‑year forecast — approved as presented.
• LexisNexis agreement (2024‑25 renewal) — approved; one abstention recorded (board member stated she currently does contract work with the vendor).
• Three‑year MOU with Sidearm Sports / ESP Media — approved; funds to come from the Athletic General Fund.
• Garland roofing proposals for Evendale, Heritage Hill and Lincoln Heights elementary schools — approved; funding from capital funds.
The LexisNexis motion included an abstention recorded on the floor: one member said she currently did contract work with the vendor and abstained from that vote. The board discussed that the Sidearm Sports MOU would streamline athletic website services and that the roofing work is part of the district’s 10‑year capital plan.
Board members and administrators said they will provide county calculations of homeowner costs for the levy before the second resolution required to place an issue on the ballot.
Next steps: the resolution was filed for the November ballot process and the administration will provide levy cost details to the board and public ahead of ballot certification deadlines.
The treasurer told the board the district’s current‑year revenue is approximately $92,000,000 while projected expenditures for the year are approaching $94,000,000. The five‑year forecast presented to the board includes a $22,000,000 capital expense for athletic facilities and a continuing phase‑out of tangible personal property (TPP) revenues; absent levy passage, one forecast scenario showed a negative operating cash position in year five (about minus‑27 days). The treasurer said a 5‑mill levy would increase revenue but would not fully eliminate deficit pressures without additional budget adjustments.
“Of that $9,700,000, $6.7 million is TPP. So we’re watching that decrease by $922,000 per fiscal year,” the treasurer said during the presentation. The report also included per‑pupil and daily cost figures (the tool showed about $93 a day to educate a student) and described ESSER rollbacks and how certain ESSER‑funded positions were managed through attrition.
On action items, the board voted on several routine and contract matters. Outcomes recorded in the meeting:
Votes at a glance
• Consent agenda — approved (voice/roll call).
• April 2024 financial report — approved.
• Amended appropriation resolution (part b) to increase appropriations for bond fund, pre‑K and medical claims — approved.
• Five‑year forecast — approved as presented.
• LexisNexis agreement (2024‑25 renewal) — approved; one abstention recorded (board member stated she currently does contract work with the vendor).
• Three‑year MOU with Sidearm Sports / ESP Media — approved; funds to come from the Athletic General Fund.
• Garland roofing proposals for Evendale, Heritage Hill and Lincoln Heights elementary schools — approved; funding from capital funds.
The LexisNexis motion included an abstention recorded on the floor: one member said she currently did contract work with the vendor and abstained from that vote. The board discussed that the Sidearm Sports MOU would streamline athletic website services and that the roofing work is part of the district’s 10‑year capital plan.
Board members and administrators said they will provide county calculations of homeowner costs for the levy before the second resolution required to place an issue on the ballot.
Next steps: the resolution was filed for the November ballot process and the administration will provide levy cost details to the board and public ahead of ballot certification deadlines.
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