Outlook for Princeton Elementary finances considered bleak

Princeton Elementary School Superintendent Tim Smith presented a 3-year projected financial picture at the last board meeting.     Smith says that if all conditions remain the same, such as decreased funding in transportation and a decrease in equalized assessed valuation or EAV, the school could be looking at a 4-million dollar deficit by the year 2015. Smith stated that spending isn’t the

problem, it’s the loss of revenue. The district did issue over 2-million dollars in working cash bonds in 2010 which is currently helping to cover any deficits they might have now. The board also authorized intent to pursue 3.25 million dollars in working cash funds if needed. Smith says issuing these funds depends on what the state does in funding school districts.