PRINCETON — There’s no good news when it comes to revenue for the Princeton Elementary School District, according to Superintendent Tim Smith.

At this week’s meeting of the PES Board, Smith said dwindling revenue continues to be the problem for the district. The board has issued $3,055,000 in working cash bonds to cover the operating funds, but that money has to stretch over the next three years.

“What concerns me is can we save fast enough,” Smith said. “This is nothing new, but it is way more severe than I even anticipated. I don’t see any improvement anytime soon.”