PRINCETON — The Princeton Elementary School Board has approved a 2013 fiscal year budget, which shows an end-of-the-year balance in all funds of more than $2.7 million.

At Thursday’s meeting, Superintendent Tim Smith reviewed the budget, which actually shows deficit spending in the education, building, transportation, IMRF, Tort and life safety funds for the 2013 fiscal year. However, thanks to positive ending balances in all individual funds for the 2012 fiscal year, the FY ‘13 budget shows a positive ending balance, as of June 30, 2013, in each of the eight funds.

Total revenue in all funds for FY ‘13 is projected at $15,016,583 with total expenditures projected at $14,034,029. The end-of-the-year total balance, as of June 30, 2013, is projected at $2,745,928.