PHS hopes for the best with finances
PRINCETON – Princeton High School ended its 2013 fiscal year in better shape than anticipated and Superintendent Kirk Haring hopes for the same with the 2014 fiscal year.
At Monday’s meeting of the PHS board of education, Haring reviewed the two budgets, saying Fiscal Year 2013 ended the year with a positive balance in all funds of $1.2 million, pending the audit. The Fiscal Year 2014 summary sheet shows a projected negative balance of $2,120,303 in all funds at the end of the Fiscal Year 2104.
In looking at the budgets, Haring said the district issued $1,530,000 in Health/Life Safety bonds in Fiscal Year 2013 to pay for work which will be completed and paid for in Fiscal Year 2014. Reserves will be used to offset any negative balances in any of the funds at the end of Fiscal Year 2014.
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