Board adopts tentative budget, hears capital project updates; $89 million bond issuance planned

The Princeton Board of Education approved a tentative fiscal plan and several capital project steps at its public meeting, and district staff outlined expected tax impacts, a near‑term bond issuance and next steps for referendum projects.

Budget and levy: Matt Bolden, the district’s finance/operations presenter at the meeting, said the tentative budget was due to the state the next day and that the district would finalize the budget at a later hearing. He described the proposed calendar‑year school tax levy increase as an estimated 4.7% on the school side and said the district’s proposed operating tax levy increase for the fiscal year is 2.91%. Bolden told the board the taxpayer impact for the average property would be about $433 (a district estimate displayed in slides).

State aid and revenue context: Bolden said state aid was cut under the current formula (a roughly 3% decrease for the district) and that local revenues (tax levy, university…