Princeton board OKs special-election resolution to fund capital projects and adopts revised budget

The Princeton Public School District board voted to place a resolution on the ballot that would authorize general-obligation bonds and a new capital-project levy and also approved a revised general-fund budget at its meeting.

The board approved the resolution, moved by Eric Strandberg and seconded by Melissa, after members confirmed the document had been legally reviewed and revised multiple times. Chair called a roll-call vote and the resolution was approved.

The resolution would allow the district to ask voters to authorize borrowing for capital improvements; the board did not specify project-level details in the motion. Board members said the resolution had been reviewed and tightened “by the book” prior to the vote.

On the revised budget, the board considered updates driven by the state legislature’s final actions. The presenter reported that compensatory aid—a state categorical that was driving a prior projected $307,000 variance—had been restored for one year, reducing the variance to about $60,000. The presenter said the district’s overall unassigned fund balance moved from roughly $2.1 million to about $1.5 million after the adjustments but noted the improvement was largely a one-year change.

Chair explained that some federal funding pots had been reduced and that Title II funding was notably lower (the district typically receives between $65,000 and $75,000; this year the presenter said it is about $32,000). The board discussed conservative budgeting assumptions and chargebacks the district expects at year-end before taking a vote.

A motion to approve the revised budget was made by Eric Strandberg and seconded by Eric Minks; the board approved the revised budget by voice vote.

The board did not set implementation dates for any bond projects in the meeting; next steps will include any statutory notices and preparations needed to place the question on the ballot if the district proceeds.