The Princeton School Board approved a 2.85% preliminary levy increase on Sept. 21.
The board approved the maximum levy, which could be modified based on the calculations of state funding formulas.
The preliminary proposed amount is $8.2 million total. Most of that is the general fund, which makes up about $4.3 million, followed by almost $3.7 million for the debt service levy. The community education levy is $324,855 total, a decrease of almost $40,000 from the previous year.
The community education levy went down thanks to extra funding for the special education tire club, according to the levy presentation.
The largest levy increase is in the general education levy, which increased by approximately $183,386. Most of that is made up by small increases in numerous categories across the budget. Many of those increases are driven by funding formulas, according to the levy presentation.
The largest increase under the general education levy in dollars is a $73,662 increase in a previous local levy to a total of almost $2 million. That represents a 4% increase in that category.
Funding for the reemployment levy saw the largest relative increase. It is projected to grow by 94% to a total of $23,122.
Four categories under the general education levy saw decreases, the largest being a drop in abatement adjustments from over $12,000 to a $420 decrease.
Other than the abatement adjustments, the largest decrease under the general education levy is funding for Quality Compensation (the alternative performance-based teacher compensation program known as Q Comp). It is expected to drop the most by over $16,000 (or 5%) to a total of $284,570.
Safe schools funding will decrease by over $11,000 (or 9%) to a total of $120,133. The equity levy also will decrease slightly by $370 to a total of $513,188.
The board set the Truth in Taxation meeting for 6 p.m. Dec. 21 at the beginning of the board work session.