Trustees exercised their oversight power over the district’s budget, considering a final report following two previous presentations.
The Princeton ISD board of trustees approved the budget and tax rate for 2022-23 during its regular meeting held Monday, Aug. 15, following public hearings for both.
Assistant Superintendent of Finance Jona Boitmann presented the proposed budget and tax rate to trustees. The district’s current fiscal year ends Aug. 31. The upcoming fiscal year begins Sept. 1 and concludes Aug. 31, 2023.
For the budget, Boitmann said she used an estimated average daily attendance of 7,260 students. Average daily attendance is used by the state to allocate funds to school districts.
The district is budgeting $102.7 million in revenues for the upcoming year, an 18% increase compared to $86.4 million last year. Expenditures also increased 16% to $102.7 million from $88.3 million one year ago.
Boitmann said she is projecting a slight surplus of $277,686.
While there is a surplus projected this year, the district will need to plan for the absence of Elementary and Secondary School Emergency Relief (ESSER) funds, she added.
“Their plan is to have districts dip into their fund balance for the next two years after next year when ESSER goes away,” Boitmann said. “We have tried to be very strategic with how we have used that money so we don’t get ourselves in a bind.”
For the full story, see the Aug. 18 issue of The Princeton Herald.
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