During the Princeton Board of Education’s review of the 2021-22 budget for the school district on Tuesday, night, the business administrator shared slides showing what debt service could look like in 2023 and beyond.
One scenario was based on no new bond referendums being approved by voters. A second scenario was based on the school district borrowing $30 million. A third scenario was based on the district borrowing $60 million, and a fourth scenario was based on the district borrowing $105 million and paying it back over 20 years.
Asked whether the board is mulling over another bond referendum in the near future, the district issued a brief statement through a spokesperson, saying there will be discussions about a new bond referendum at school board meetings this year.
“At this time there are no specific plans for a referendum but we expect it to be a topic of discussion as the year progresses,” reads the statement. “The board remains committed to being excellent stewards of the community’s financial resources and facilities.”
In November of 2018, voters approved a $27 million bond referendum for improvements at the district’s six public schools. The school board had been looking at buying Westminster Choir College, but during the campaign for school board last year, board leaders said the board has no plans to buy the school, and would instead maximize the use of existing facilities to address the issue of rising enrollment in the district.