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Princeton council adopts 2025 municipal budget; library and debt draws concern
Summary
Council approved the 2025 municipal budget and an ordinance to establish a cap bank. Council debate flagged a second consecutive 5% library increase and a $900,000 rise in debt service.
The Mayor and Council of Princeton adopted the municipality’s 2025 budget on April 16 after a public presentation from the chief financial officer and a roll-call vote.
Sandy (CFO) said the overall municipal budget rose about 3 percent and attributed increases to salary and wage adjustments, insurance, utilities, pensions and debt service. Sandy told the council the municipal tax rate will increase by 0.0124, which she said “equates to $106 a year,” and that when the library tax is included the increase becomes $134 a year.
Sandy said the administration increased the use of surplus by $1,000,000 and identified roughly $1,500,000 in additional revenues to cover non-discretionary costs. She said approximately 43 percent of the budget covers items the municipality cannot control.
Councilmembers praised the transparency of the presentation but raised two concerns. Councilmember Bridal said the library allocation rose 5 percent for a second consecutive year and noted that rate “exceeds the growth of the overall municipal budget” and is “about double the tax levy increase.” She urged the town to help the library pursue nonmunicipal revenue and to work with library leadership on expense control.
Councilmember Brian (role: councilmember) and others pointed to a $900,000 increase in debt service. Brian said recent purchases and investments — including the acquisition of the Westminster choir college property — have raised long-term borrowing and that the finance committee should review capital priorities and borrowing capacity.
Before adopting the budget, the council considered and approved Ordinance 2025-04, an ordinance “to exceed the municipal budget appropriation limits and to establish a cap bank” citing "JSA 40 A 4 - 45.14" as referenced in the agenda. Councilmember David Cohen clarified that although the budget increase approaches 3 percent, many items are exempt from the state cap and the municipality remains under the 2.5 percent cap; Cohen said the cap-bank ordinance is a routine precaution to preserve flexibility for future adverse circumstances.
The budget resolution (25-1-34) passed by roll call. Councilmembers recorded the affirmative votes individually during the roll call.
