Get Full Government Meeting Transcripts, Videos, & Alerts Forever!
Get email alerts on the Budget And Finance topic
No spam. Unsubscribe anytime.
Board certifies tax amounts and rates; treasurer warns proposed state cash‑balance language could risk ~$7 million
Summary
The board approved a resolution accepting amounts and rates determined by the budget commission for certification to the county auditor. The treasurer reported the district provided data to advocacy groups opposing draft state cash‑balance language that could allow counties to remove balances exceeding 30%, which she estimated could affect roughly $7 million for the district.
The Princeton City Schools Board of Education moved to approve a resolution accepting the amounts and rates as determined by the budget commission and to certify the necessary tax levies to the county auditor for tax year 2026.
Board members noted the resolution is an annual step in the district’s budget cycle: the budget document is prepared, the hearing held, county review completed and then the board formally approves the amounts and rates. The motion to approve the resolution was moved and seconded and passed on a roll‑call vote.
In the treasurer’s report, the district treasurer informed the board that the state senate’s education committee would be receiving testimony on pending legislation that includes so‑called cash‑balance language. She said the district submitted data to professional organizations and advocates and that, for Princeton, the provision as drafted could affect "about over 7,000,000." She noted the district is simultaneously asking voters for local funding via a levy, making the potential state language particularly consequential.
The resolution was approved by voice and roll call; staff will continue to monitor the legislative process and advocacy organizations’ testimony and will report further developments to the board.
