Princeton ISD took one step toward approving a budget for the upcoming fiscal year set to expire at the end of August.
Assistant Superintendent of Finance Jona Boitmann presented the preliminary budget for the fiscal year 2022-2023 to trustees during the Monday, June 20, regular meeting.
The current fiscal year runs through August 31 with the upcoming fiscal year running from Sept. 1, 2022 through Aug. 31, 2023.
The budgeted average daily attendance for the district for the next fiscal year is 7,260, an 893 increase from the prior year. The average daily attendance for the 2021-2022 school year was 6,367.
Average daily attendance figures impact the amount of funding the district receives from the state.
Boitmann said she used a 12% weighted increase to help account for additional expenditures for the fiscal year 2022-2023.
The 2021-2022 budget planned for $68.3 million in revenue and the budgeted revenue for 2022-2023 is $77.2 million, a 13% increase over the prior fiscal year.
Expenditures for the current fiscal year are $64.1 million but that figure in the upcoming fiscal year is budgeted at $73.1 million.
For the full story, see the June 30 issue of The Princeton Herald.
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